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Drawing on their work within the ‘Beyond Budgeting' movement over the past twelve years including many interviews and case studies Jeremy Hope, Peter Bunce and Franz Röösli set out in this book an executive guide to building a more empowered and adaptive organization based on 12 management principles:
Principle #1 - Values: Bind people to a common cause, not a central plan
Principle #2 - Governance: Govern through shared values and sound judgment, not detailed rules and regulations
Principle #3 - Transparency: Make information open and transparent, don't restrict and control it
Principle #4 - Teams: Organize around a network of accountable teams, not centralized functions
Principle #5 - Trust: Trust teams to regulate and improve their performance; don't micro-manage them
Principle #6 - Accountability: Base accountability on holistic criteria and peer reviews, not on hierarchical relationships
Principle #7 - Goals: Set ambitious medium-term goals, not short-term negotiated targets
Principle #8 - Rewards: Base rewards on relative performance, not fixed targets
Principle #9 - Planning: Make planning a continuous and inclusive process, not a top-down annual event
Principle #10 - Coordination: Coordinate interactions dynamically, not through annual budgets
Principle #11- Resources: Make resources available just-in-time, not just-in-case
Principle #12 - Controls: Base controls on fast, frequent feedback, not on budget variances
These principles will enable and encourage a cultural climate change that will enable your organization to attract and keep the best people as well as drive continuous adaptation, innovation and growth. They define the new management model for the twenty-first century organization.
Jeremy Hope is co-founder of the Beyond Budgeting Round Table, a not-for-profit collaborative dedicated to helping organizations improve their management models. He is a chartered accountant and a co-author of Transforming the Bottom Line, Competing in the Third Wave and Beyond Budgeting. He is also author of Reinventing the CFO. He lives in West Yorkshire, England and can be contacted at email@example.com.
Peter Bunce is a co-founder of the Beyond Budgeting Round Table (BBRT), a not-for-profit collaborative dedicated to helping organizations improve their management models. He is a Chartered Engineer and has held various posts in manufacturing engineering and collaborative research. He lives in Hampshire, England and can be contacted at firstname.lastname@example.org.
Franz Röösli is a professor and management trainer at the University of Applied Sciences North Western Switzerland (FHNW) and Director of the Beyond Budgeting Round Table (BBRT), an international shared learning network for management development. He has experienced many years in management positions in different industries. He lives in Switzerland and can be contacted at email@example.com.
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