For Annual Planning, Investing Beats Budgeting
Hi everyone. I wrote this piece on how, at ConsenSys, we've used principles from venture investing to come up with a better budget process. One that gives teams more flexibility and autonomy, and is more transparent for the org. It was designed to help us do budgeting in a way that supports our broader desires to decentralized the company.
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Haier is a lot, but it is definitely not a normal company. We already spoke about their evolution in strategy, now it's time to focus on the evolution of Haier's organizational model. And especially on how the driving force of that evolution has moved from the CEO to the rest of the organization in order to increase the chances of survival. For Haier, the choice has always been simple; Evolve or Die.
In order to make work more fun, we need to get a few things right. We need to connect like-minded rebels around the world, facilitate knowledge sharing, and challenge one another to radically change the way we work.
Normally, we plan for growth and success—not for depressions, bushfires or the Coronavirus. Yet, about every 5 years (in our experience) there is a significant externality that throws your plans out the window. Over 25 years, examples included the 1997 Asian currency crisis, 9/11, SARS, and the Global Financial Crisis (not to mention tsunamis, or the volcanic ash that cancelled a meeting of our network).