Last week’s local BBRT workshop in Denmark was well attended and the participants actively discussed different perspectives on Cost Management.
A few learnings from the workshop:
- Of the 12 Beyond Budgeting principles, only one directly addresses cost management (or: resource allocation). But this doesn’t mean that costs are not important, on the contrary: They are far too important to be dealt with in the traditional fashion with annual pre-allocated detailed budgets.
- Organisations have to find new and better ways of ‘controlling costs’, or as we prefer to phrase it: organisations must find the best way to make use of its scarce resources.
- Accordingly, the recent and well attended BBRT workshop in Denmark focused on Cost Management; both variable and fixed costs
The next local BBRT workshop will focus on Beyond Budgeting in listed companies. At this event, we will address the issues that are of particular relevance to companies listed on the stock exchange; such as communication with the market, and how being listed influences target setting, forecasting, incentives, etc.
We encourage all members to participate.
The workshop is likely to be held in November. Further information will follow in August.