An introduction to our new framework
In order to help organisations on their Beyond Budgeting journey, we have developed an Implementation Framework, which was revealed at the latest BBRT meeting in London. The framework is the result of the experiences and knowledge that we have gathered since our network started almost 20 years ago. The purpose of the framework is to help organisations move further and faster on the journey.
We are very happy and proud to note that organisations that decide to start on a Beyond Budgeting journey, they stay on it and do not return to the ways of the past. Of course there have been a few exceptions (usually due to a change of control), but this is the general picture. This said we are convinced that our new Implementation Framework can significantly increase the chances of organisations reaching their full potential.
The theme of the latest BBRT meeting was: Implementation. Accordingly, the focus was on how to make Beyond Budgeting happen, and not what it is.
Key messages and take-away’s from the meeting:
- Management is a thinking issue
- Beyond Budgeting (BB) represents a management philosophy that is different from traditional ‘command & control’
- Accordingly, to implement and achieve the full potential of BB, a change of management thinking is required.
- The change of mind-set should take place at the outset of a BB journey – before new processes and systems are developed and implemented.
- The Beyond Budgeting Institute presented a newly developed framework for implementing BB. This includes a number of stepping stones, one of which is a study phase, which addresses the required mind-set change – see below.
- We recommend that companies seek advice from one of our BB Partners to ensure that this framework is properly applied right from the beginning of the journey
Are you considering how to get started on your Beyond Budgeting journey, and want to know how the framework can help you? Then please do not hesitate to contact Director Anders Olesen.