Guest Lecture: Beyond Budgeting: A new management model for new business realities – The Statoil implementation journey
Thursday 15 March 2012, 13:00
Lecture Theatre 3, LUMS
Speaker:
Bjarte Bogsnes
Vice President of Performance Development, Statoil
Bjarte Bogsnes, a pioneer in the Beyond Budgeting Movement and author of “Implementing Beyond Budgeting: Unlocking the Performance Potential” (John Wiley & Sons, 2009; with a foreword by Robert Kaplan, cofounder of the Balanced Scorecard), will held a Guest Lecture at Lancaster University Management School.
Statoil realised that traditional leadership and management practices no longer work in today's business environments which are more complex, dynamic and unpredictable than ever. The company implemented innovative and agile alternatives to traditional management including abolishing both traditional budgets and calendar-based management. Drawing from best practices of cases where the speaker headed up the implementation of Beyond Budgeting in large global companies, he will discuss how an organization can maximize a performance climate with teams committed to a common purpose, shared rewards, and sustained value creation.
The lecture will cover the following themes:
- The problems with traditional management, including traditional budgets
- The Beyond Budgeting principles
- Statoil's "Ambition to Action" model
- Redefining performance - dynamic and relative targets and a holistic performance evaluation
- Dynamic resource allocation and no budgets
- From calendar-driven to event-driven
- The Finance/HR partnership - why HR must be on board
- Implementation experiences
About the speaker
Bjarte Bogsnes, a popular international speaker, is Chairman of the Beyond Budgeting Roundtable Europe (BBRT) and Member of the Advisory Board, Palladium Execution Premium Community (XPC). He heads the Beyond Budgeting project at Statoil, Scandavia’s largest company with operations in 35 countries and a turnover of 80 bn USD. He has a long international career in the oil business, both in Finance and HR. As group controller for the petrochemicals company Borealis, he headed the abolishment of budgeting in this company in the mid-1990s and has been advocating the Beyond Budgeting principles ever since.
The Guest Lecture (which is part of the Accounting and Finance postgraduate course AcF 604: Management Control Systems) is open to anybody interested at LUMS.
Attendance at this seminar requires registration.
Course convenor: Jan Pfister (j.pfister@lancaster.ac.uk)
