The Change Society Podcast

Sullivan & Stanley
The Change Society Podcast

A series of conversations with senior executives and change leaders, discussing the future of work and business innovation.

  1. The Change Society | Beyond Budgeting - The foundation of radical change

    12/05/2021

    The Change Society | Beyond Budgeting - The foundation of radical change

    “Unless you address the budgeting process, all the talk about radical change are just nice words”. There probably isn’t a better way to introduce this show than the words of our guest Bjarte Bognses.  Bjarte, winner of the Harvard Business Review/McKinsey Management Innovation award, is the undisputed leader of the Beyond Budgeting movement - the topic of today's episode. Lots of ground was covered in this one, including where the movement was originally inspired, how the adoption of beyond budgeting has increased since the pandemic, how to get the CFO and executive team on board with rolling budgets and how Handelsbanken operate with no budgets, targets or individual bonuses. The topic becomes more than just about the budgeting process. It’s an exercise in challenging traditional management and leadership principles that can unlock the true potential of organisations normally slowed by bureaucracy and red tape. As usual, a ton of value for any executive or leadership team looking to change and innovate. References: Twitter: https://twitter.com/bbogsnes LinkedIn: https://www.linkedin.com/in/bjarte-bogsnes-41557910/ bbrt.org Implementing Beyond Budgeting Book 1.29 - Intro The first time we kicked out the budget, and costs came down The beginning of the Beyond Budgeting journey back in 2005 Enjoying public speaking and podcasting 4.17 - What is Beyond Budgeting? The purpose is to create a more dynamic, flexible human organisation Changing the budgeting process, but also the budgeting mindset We are looking for a better name! 5.44 - Heritage of Scandinavian Management Techniques Beyond Budgeting is more prevalent because of culture. Informal and trusting A movement inspired by companies in both Scandinavia and the UK The idea started in 1998, two years before the agile manifesto 8.24 - The 12 key principles and what they are looking to challenge Divided into six leadership principles The traditional models don’t reflect the management processes you need to unlock these leadership beliefs We have to practice what we preach as leaders Traditional management built on two principles - can’t trust people and that the future is predictable and plannable.   The pandemic has busted these apart 13.16 - Are you seeing a shift in uptake of Beyond Budgeting since the pandemic from boards? Every big company is on some sort of agile transformation Unless you address the budgeting process, wanting to change is just lip service Everyone loves innovation, but that enthusiasm is limited to tech - not management 18.58 - Using the right language to align groups of executives We should leave performance management behind as a label Stop managing performance, and start enabling E.g. Traffic lights manage performance while roundabouts enable it 20.55 - What are the barriers to transitioning to this new world? The fear of losing control, although that is often just an illusion We don’t need targets to evaluate performance Hitting the target, but missing the point 25.33 - Case Study  Handelsbanken has been operating with no budgets, targets or individual bonuses since 1970. Has never needed a government bailout 26.55 - How to take the CFO and Finance team on a journey to rolling budgets They initially find it a bit big and scary Ask ourselves - why do we budget? Set targets, forecast and resource allocation It created gaming and sandbagging We can continue to do all three, but we do them in separate processes Target- an aspiration, what we want to happen Forecast- what we think will happen Resource allocation- optimisation of scarce resources 35.28 - What does the future look like? Like-minded communities are joining forces to spread the word  In 15-20 years, we’ll smile at management in 2021 Be the pioneer or the laggard

    40min
  2. The CxO Society | The Customer Masterclass

    27/04/2021

    The CxO Society | The Customer Masterclass

    Being customer-centric in 2021 is no longer a choice. But what are the nuances and tips that can differentiate you from the pack? Joining host Jacob Perring on the show was our very own Chief Customer Experience Officer Emma Dark (previously ASOS, The White Company & Soho House) and Mark Baxter (Tesco, P&G). In 50-odd minutes they cover the latest trends they’ve seen the past few years, why your customer must have a seat at the boardroom table, common issues when driving customer focus at a senior level and how to measure it all. Between Mark and Emma there is a boatload of customer experience across industry on a variety of levels, so no doubt you will come away from this with huge value. One not to be missed, so we hope you enjoy the show. 1.12 - Intro Mark Baxter, Marketing Director specialising in customer data and centricity. Emma Dark, Chief Customer Experience Officer at S&S, previously ASOS, The White Company and Soho House 2.25 - What trends are we seeing in the past few years as we focus on customers Buffet- you can tell who’s been swimming naked when the tide goes out Customers seek authentic brands that resonate with them Engagement and experienced led product or service is vital CX is the battleground and differentiator in a digital world Customer needs to be a strategy across the whole business 7.52 - Customer data and knowing your customer Two types. Data and being forensic, but also observing with your own eyes This leads your business on the right path to creating something unique FMCG and retail, lots of copycats. So you have to differentiate through customer Knowing them behaviourally and personalise their experience Need to dispel the myths by researching what they really want 🔥 Focus on the epicentres where you can extract insights  Customer data isn’t a one-off exercise - it has to become ingrained everywhere 🔥 11.38 - Customer having a seat at the boardroom table You have that independent conscience of the customer 🔥 Shine a light when it's not the right decision for the customer 🔥 A single view of the customer across various organisational functions wins Set out what the north star strategy actually means and how it resonates How do they purchase? What is their journey?  17.06 - Measurements and metrics What is the as-is business across all our touchpoints? NPS is a strong way of measuring customer satisfaction Along with competent scores of that customer journey Having multiple measurements and looking at the whole story E-commerce is a good way to track that journey and identify problems 22.22 - Customer engagement via social media Brewdog - they aren’t just discussing their products, they’re telling a story Content and community strategy anchored in values and purpose Customer dialogue > advertising The opportunity to show your company personality Creating a space for user-generated content 28.54 - Common issues when driving customer focus as a senior level Thinking you know the customer, but you don’t Customer centricity not part of your organisation’s culture They don’t understand their ‘why’ Metrics aren’t strong enough 34.53 - Speed, failing fast and learning quickly Case study: Mercadona Trust the customer and empowering employees to make quick calls Act upon your insights and be proactive Where is it practical to get a cohort of your customers involved? 40.14 - Purpose over profit Customers are skeptical, you have to walk the walk People now actually care about environmental impact of products Organisations talking about their people creates authenticity and builds trust Purpose has to become the new differentiator Stand for something - or you’re in a no-mans land of mediocrity Big banks disrupted by customer-centric fintechs If you’re interested to hear more about how Sullivan & Stanley solves the change problem and how we empower companies to embrace disruption to thr

    51min

Sobre

A series of conversations with senior executives and change leaders, discussing the future of work and business innovation.

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