I belong to the rather small group of Finance people who also have worked in Human Resources. The four years I headed up HR in the petrochemicals company Borealis was a great experience (after heading up Finance where we kicked out the budget already back in 1995, another great experience!).
Over the twenty years that I have worked with Beyond Budgeting, I have asked tens of thousands of managers and Finance people all over the world about how satisfied they are with the budgeting process.
Welcome to this blog series, where I look forward to share with you some of my reflections on what I believe are very important issues for most organisations today.
Many will still argue that target setting works. “What gets measured gets done”. Yes, targets do work. That is actually the problem. Managers hitting their target is, however, no guarantee whatsoever that this was their best possible performance, given the circumstances.
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Beyond Budgeting has now been around for twenty years. More and more companies across the world are embarking on a Beyond Budgeting journey, from global giants to smaller ones not yet strangled by corporate controls and bureaucracy, eager to protect their start-up agility as they grow.
“Control” is an interesting word in the management vocabulary. It is a word many managers struggle with defining. Beyond “cost control”, most are quite vague when it comes to other definitions.
I belong to the rather small group of Finance people who also have worked in Human Resources. The four years I headed up HR in the petrochemicals company Borealis was a great experience (after heading up Finance where we kicked out the budget already back in 1995, another great experience!).
Over the twenty years that I have worked with Beyond Budgeting, I have asked tens of thousands of managers and Finance people all over the world about how satisfied they are with the budgeting process.