Beyond Budgeting London October 22-23

On October 22-23, the 54th European Meeting was organized Beyond Budgeting Round Table (BBRT), this time in London. On Wednesday, more than 20 BBRT members met for a work shop on resource allocation led by Rikard Olsson and Knut Fahlén from Ekan Management.

On the same day, an open BBRT conference was held with over 50 participants, including listening to Anders Bouvin, Handelsbanken CEO of UK, and Professor Julian Birkinshaw from London School of Economics.

Thursday's network meeting began Bjarte Bogsnes, Statoil, and Anders Olesen, BBI, who took the opportunity to welcome nine new members, including LeoPharma, Arla Foods and SKF. John Timpson then presented his unique management model and explained the secrets behind good customer service and how Timpson has become one of the UK's most successful companies in shoemaking, key manufacturing, engraving, watch repairs, dry cleaning, mobile phone and photo repair, while many of these industries disappeared completely during the 1980s and 1990s. The secret of the success can be found in his book ”Upside Down Management".

Vlatka Hlupic, Professor of Business and Management at Westminister Business School in London, then told network members about his new book "The Management Shift - How to harness the power of people and transform your organization for sustainable success", Which launches in the days. The book addresses the need for a change of leadership toward increased participation to promote innovation and highlight hidden strengths of employees. According to her studies, there is a potential to double the profitability of both private and public enterprises, regardless of size.

Steve Player, in addition, announced the next BBRT North America meeting, which will take place November 17-18 in Alamo, Texas, with Caterpillar is worth. Caterpillar abandoned the budget in 2009, the year after the Lehman-Brothers crash, when the budget was out of date even before the year began. In this new situation, Caterpillar's strategy was to inform the managers that there was no budget and that they had to make the best of the situation. In 2009, the business performed better than anyone had expected. Going back to budget control after the crisis was therefore no alternative. Player also told us that health care is the hottest area for BBRT in the United States because it is properly neglected throughout the country. For several healthcare companies, BBRT is the only network that drives issues of interest to them.

Meeting ended with a presentation of Henry Stewart, CEO of Happy Ltd. Stewart talked about the company's management philosophy, which is also described in the book ”The Happy Manifesto“Which in short is based on creating a good work environment where employees are happy. Stewart says: “We humans work best when we are happy and feel good. Therefore, the primary task of the management is to create the conditions for the employees to feel good ”. According to Henry, too many organizations' management models are based on distrust and also refer to Gary Hamel, which shows from its global research that only 21 percent of employees stated that they were fully engaged in their work, while 79 percent were physically at work but had left the enthusiasm and ingenuity at home. This is a big waste and results in lost productivity and profitability.

If you want to know more about the content at the meeting, what Beyond Budgeting is about, or what a membership in BBRT means, you are most welcome to contact Knut Fahlén.

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