Budgeting a thing of the past for Statoil. By John Stokdyk
"I don't like budgeting and I don't like performance management either. I don't think you can manage performance. What you can do is create the environment and conditions for good performance to take place."
That's the view of Bjarte Bogens, a project manager with Norwegian oil giant Statoil, who oversaw the elimination of traditional budgeting from the company's management and reporting processes.
Scandinavians have often embraced radical management ideas without the dire consequences that paralyse less adventurous executives.