Beyond Budgeting How Managers Can Break Free from the Annual Performance Trap 1st edition by Jeremy Hope, Robin Fraser ISBN 1578518660 978-1578518661

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Product details:

ISBN 10: 1578518660
ISBN 13: 978-1578518661
Author: Jeremy Hope, Robin Fraser 

The traditional annual budgeting process–characterized by fixed targets and performance incentives–is time consuming, overcentralized, and outdated. Worse, it often causes dysfunctional and unethical managerial behavior. Based on an intensive, international study into pioneering companies, Beyond Budgeting offers an alternative, coherent management model that overcomes the limitations of traditional budgeting. Focused around achieving sustained improvement relative to competitors, it provides a guiding framework for managing in the twenty-first century.

Beyond Budgeting How Managers Can Break Free from the Annual Performance Trap 1st Table of contents:

Part I – The Promise of Beyond Budgeting

Chapter One – The Annual Performance Trap

Budgeting Is Cumbersome and Too Expensive

Budgeting Is Out of Kilter with the Competitive Environment and No Longer Meets the Needs of Either Executives or Operating Managers

The Extent of “Gaming the Numbers” Has Risen to Unacceptable Levels

Toward a Vision of a New Management Model

Chapter Summary

Chapter Two – Breaking Free

The Adaptive Process Opportunity: Enabling Managers to Focus on Continuous Value Creation

The Radical Decentralization Opportunity: Enabling Leaders to Create a High Performance Organization

Scaling the Twin Peaks of Beyond Budgeting

Beyond Budgeting Provides Benefits for Shareholders

Chapter Summary

Part II – The Adaptive Process Opportunity: Enabling Managers to Focus on Continuous Value Creation

Chapter Three – How Three Organizations Introduced Adaptive Processes

Rhodia

Borealis

Svenska Handelsbanken

Chapter Summary

Chapter Four – Principles of Adaptive Processes

Six Principles of Managing with Adaptive Processes

Changing Attitudes and Behaviors

Chapter Summary

Chapter Five – Insights into Implementation

Defining the Case for Change and an Outline Vision: It’s an Essential First Step

Convincing the Board: Be Prepared

Getting Started: It’s Easier Than You Think

Designing the Model and Implementing New Processes: It’s Coherence That Matters

Training and Educating People: It’s Never Enough

Rethinking the Role of Finance: It’s an Opportunity to Add Value

Changing Behavior: It’s Driven by New Processes, Not by Management Decree

Evaluating the Benefits: There Are Plenty of Quick Wins

Consolidating the Gains: It’s about Winning Hearts and Minds at the Top

Chapter Summary

Part III – The Radical Decentralization Opportunity: Enabling Leaders to Create a High Performance Organization

Chapter Six – How Three Organizations Removed the Barriers to Change

Ahlsell

Leyland Trucks

Svenska Handelsbanken

Chapter Summary

Chapter Seven – Principles of Radical Decentralization

Principle 1: Provide a Governance Framework Based on Clear Principles and Boundaries

Principle 2: Create a High-Performance Climate Based on Relative Success

Principle 3: Give People Freedom to Make Local – Decisions that are Consistent with Governance Principles and the Organization’s Goals

Principle 4: Place the Responsibility for Value Creating Decisions on Front-Line Teams

Principle 5: Make People Accountable for Customer Outcomes

Principle 6: Support Open and Ethical Information Systems – That Provide “One Truth” throughout the Organization

Chapter Summary

Chapter Eight – Insights into Changing Centralized Mind-Sets

Selling the Benefits: How the Soft Numbers Become Hard

Changing Processes Precedes the Devolution of Responsibility: The Order Is Crucial

Devolving Responsibility: It Cannot Be “Given,” Only “Taken”

Overcoming the Resistors: The Forces of Centralization Are Never Far Away

Letting Go: It’s the Ultimate Challenge

Changing Recognition and Rewards: It’s the Seminal Moment

Maintaining the Momentum: It’s a Never-Ending Process

Chapter Summary

Part IV – Realizing the Full Promise of Beyond Budgeting

Chapter Nine – The Roles of Systems and Tools

Shareholder Value Models

Benchmarking Models

The Balanced Scorecard

Activity-Based Management Models

Customer Relationship Management Models

Enterprisewide Information Systems and Rolling Forecasts

Using the Integrative Power of Tools to Support Front-Line People

Chapter Summary

Chapter Ten

Is the Model Simple, Low Cost, and Relevant to Its Users?

Is the Model in Tune with the Success Factors of the Information Economy?

Does the Model Encourage Good Governance and Ethical Behavior?

Reconnecting Front-Line People to the Organization

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Tags: Jeremy Hope, Robin Fraser, Beyond Budgeting, Annual Performance