Creative BBRT hit with Volvo Cars and Spotify, among others
BBRTThe meeting at Volvo Cars attracted 60 participants from 17 large and medium-sized companies. The meeting began with a factory tour and presentation of Volvo Cars operations. Ekan Management's CEO Dag Larsson initiated. Then Hans Oscarsson, CFO Volvo Cars, presented how Volvo Cars' financial function has been transformed in recent years. Having been solely a finance function for a "division" of the Volvo Group and Ford, with no overall responsibility and far from the really strategic business and financial issues, the recent years with Geely have meant full responsibility for all financial matters. Per Ansgar then described how Volvo Cars is now clarifying its steering model under the new conditions that prevail.
Manuel Ferreira, Director Planning and Performance Management from Nors in Portugal, gave an inspiring presentation on how they released the budget to fully manage their global operations with “Key-Value-Drivers”. The control model is based on Beyond Budgeting's principles and has helped Nors act much faster in both upturn and downturn in the market.
Michael Öhman, Product Owner at Spotify, then presented how Spotify systematically works with culture and autonomy in combination with specialization and collaboration between “Tribes”. Their work has created a global agile organization, ready to face competition from the big ones - Google and Apple.
The day ended with Rikard Olsson and Knut Fahlén from Ekan Management holding a workshop on the theme “Target Setting”. The big problem with today's budget management is that goals, forecasts and resource allocation often mean that the same fixed figures are used in financial management, while rewards are based on the same figures. This leads to lock-in effects and manipulation in deviation analyzes and forecasts towards the end of the year, which together prevent many companies from reaching their full potential. By challenging prevailing governance models, we can develop new governance models that are better suited to the business conditions of the 21st century.
Ekan Management, BBRT's local representative in Sweden, will return to all Swedish members with the invitation to the next meeting scheduled for early December. All members are also invited to BBRT members meeting on October 8.