UWTSD’s School of Business and Management to host talk by Bjarte Bogsnes, Vice-president Performance Management Development at Statoil, on October 12


UWTSD’s School of Business and Management is delighted to welcome Bjarte Bogsnes, Vice-president of Performance Management Development at Statoil, to the University on October 12.

Bjarte will deliver a talk to staff and students entitled ‘Beyond Budgeting – a management model for new business and people realities - the Statoil implementation journey.’


The talk, which will take place at 10am and 4.30pm in the Swansea Business School in High Street, will detail how Statoil, the Norwegian multinational oil and gas company, with headquarters in Stavanger, Norway, changed their performance and reporting system.

Statoil is a fully integrated petroleum company with operations in thirty-six countries. By revenue, Statoil is ranked by Forbes Magazine (2013) as the world's eleventh largest oil and gas company and the twenty-sixth largest company, in the world. The company has 23,000 employees.

 In particular: Bjarte Bogsnes’ talk will look at:


The problems with traditional management, including budgeting

The Beyond Budgeting principles and companies on the journey

Statoil's "Ambition to Action" model;

Redefining performance - dynamic and relative with a holistic performance evaluation

Dynamic forecasting and resource allocation and no traditional budgets

From calendar-driven to event-driven; a more self-regulating management model

And Implementation experiences and advice

Note to Editor

Bjarte Bogsnes has a long international career, both in Finance and HR. He is currently heading up the Beyond Budgeting implementation at Statoil, Scandinavia’s largest company with operations in 36 countries and a turnover of $130 billion. On Fortune 500, the company was recently ranked #1 on Social responsibility and #7 on Innovation. Transparency International has named Statoil the most transparent listed company globally.

Bjarte is a popular international business speaker and winner of a Harvard Business Review/McKinsey Management Innovation award. He is the author of “Implementing Beyond Budgeting – Unlocking the Performance Potential”, where he writes about his implementation experiences. Statoil realised that traditional leadership and management practices no longer work in today’s competence organisations operating in business environments more complex, dynamic and unpredictable than ever. The company implemented innovative alternatives to traditional management, like abolishing traditional budgets and calendar-based management in favour of more decentralized, agile and human processes. Bjarte has spent half his career outside Norway, including several years in the European petrochemicals company Borealis as vice president for corporate control and later for human resources. At Borealis he also headed an initiative to manage the company without a budget. He graduated from the Norwegian School of Economics and Business Administration in 1983, joining Statoil in the same year.