Performance Management

økonomiforum • dedicated knowledge to the finance functionPerformanceManagementconferenceCopenhagen 25 June 2013• Latest trends within Performance Management• Understand what drives performance• How can the finance organization improve business performance?• Practical experience from international speakers and companiesSpeakersAnders Aakær Jensen Group VP Corporate Financial Planning & Analysis, GrundfosBjarte Bogsnes VP Performance Management Development, Statoil – and Chairman of BeyondBudgeting Round Table (BBRT)Doug Kirkpatrick Principal, RedShift3 (previously with The Morning Star Company)Ken L. Bechmann Professor, Department of Finance, Copenhagen Business SchoolKnud Winkler Head of Performance & Analysis, A.P. Moeller - MaerskSigurd Aune Chief Financial Officer, SpareBank 1 Gruppenwww.budgetdagen.dkSponsors:økonomiforum • dedicated knowledge to the finance function 1

performance managementSponsorsKnowledge providerBasicoBasico provides a range of CFO Services within financial management, accounting, controlling and advisory. The coreof Basico is our consultants’ extensive experience in operation and management of finance functions in both Denmarkand abroad.Basico provides consulting services to CFO’s. This includes helping CFO’s improve their companies’ performance. On aregular basis, Basico publishes newsletters, case stories and white papers aimed at helping CFO’s and their organizations.Should you wish to have a dialogue with Basico about performance management, please send an email to aolesen@basico.dk.Knowledge providerBeyond Budgeting Round TableThe Beyond Budgeting Round Table (BBRT) is an international shared learning network of member organizations witha common interest in transforming their performance management models to enable sustained, superior performance.BBRT helps organizations learn from world-wide best practice studies and encourages them to share information,past successes and implementation experiences to move beyond command and control.The BBRT is at the heart of a movement that is searching for ways to build lean, adaptive and ethical enterprises thatcan sustain superior competitive performance. Its aim is to spread the idea through a vibrant community.For more information about Beyond Budgeting, please visit: www.bbrt.orgMedia partnerØkonomisk Ugebrev CFOØkonomisk Ugebrev CFO (Economic Weekly CFO) is a new version of the Økonomisk Ugebrev, focusing on analyses andtools for the CFO. How is the current economic situation handled? Are there new opportunities via the BRIC countries?How are top CFOs acting? Økonomisk Ugebrev CFO wants to provide the finance manager/CFO with analyses, overviewsand tools and is therefore a media partner for Økonomiforum’s conferences and newsletters.Partner sponsorMedius Denmark ApSMedius is an international company whose core business is the development, sales and implementation of the workflowplatform Mediusflow containing a variety of modules to streamline processes as regards document processing.The best-selling module is the Mediusflow Invoice, a solution for supplier invoice automation in which you can optimizethe approval process of all types of supplier invoices. Medius also offers a number of other solutions - agreementmodule, a purchase-to-pay module and a designer to set up your own workflows.Medius has developed integration to more than 70 different ERP systems and this means that the Mediusflow canbe easily integrated with your existing system. Medius has over 700 customers within production, trade, retail andservices and is headquartered in Sweden, but reaches customers all over the world with subsidiaries in the Nordiccountries, the US, Australia, Benelux, France and Poland, and through global delivery partners.Partner sponsorInspariInspari is a dedicated Business Intelligence consultancy with industry-leading knowledge about Performance Managementand Microsoft-based Business Intelligence solutions.Through passionate employees and proven solutions, we optimise businesses and people, and we work diligently tohelp our customers go from data to knowledge – and from knowledge to value.Inspari has been named Microsoft Business Intelligence Partner of the year 07/08, TARGIT-partner 2009, QlikTechPartner of the Year 2011 and Børsen “Gazelle” of the year 2010, 2011 and 2012. We are one of the few Microsoft GoldCertified Partners specializing in Business Intelligence in Denmark.Partner sponsorKapacityKapacity is a trendsetting player on the Danish business intelligence market. We have offices in Copenhagen, Koldingand Aalborg. We have a nationwide presence and local resources.We believe that experience is the key to successful projects, and it is extremely important to us to be able to offer dedicatedcore skills combined with broad expertise gained from previous projects. We also believe that a well-anchoredproject requires both technical and business expertise, and our consultants are experienced in Microsoft BI, TARGITand IBM Cognos. We are the only Danish consulting house to cooperate with German Theobald Software, a companywhich supplies an interface that enables SQL servers to load data directly into SAP.At Kapacity, we create quality solutions we can be proud of. You can count on what we say. We deliver what we promise.In other words: We give you Quality, Integrity, Kapacity.2økonomiforum • dedicated knowledge to the finance function

prefaceAbout the ConferencePerformance ManagementThis topic is high on the agenda of most international companies. In the top management team, theCFO has a significant role in ensuring optimal Performance Management systems and processes.Companies and organizations are all striving to maximize ”Performance”, but is it really possible to“manage performance”? The purpose of this conference is to provide participants with new ideasand insights about how to create the best possible conditions for sustained superior competitiveperformance.In 2013, most companies are faced with fierce competition and unstable and unpredictable businessconditions. Organizations and people must navigate and act in increasingly complex environments.Traditional mindsets, business models, leadership and management principles and modelsare challenged. Also the finance functions must adapt to the new reality and ensure that theirsystems, models, processes etc. can support the way businesses are managed in the future; especiallywhen it comes to Performance Management.BackgroundSince 2009, Økonomiforum has organized annual conferences in Copenhagen called Budgetdagen(“The Budget Day”). The focus has always been on planning, budgeting and related topics of interestfor senior finance executives. This year, we have decided to focus entirely on PerformanceManagement. We have an international panel of speakers from global companies providing insightof relevance for other international organizations. Consequently, we have decided to do the conferenceentirely in English; which is also why we this year have changed the name of the conference.økonomiforum • dedicated knowledge to the finance function 3

about the conferenceKnowledge, experiences and casesAt the conference you will meet professionals from international top-tier companies that have activelybeen working on improving and optimizing their Performance Management systems and processes.Cases from these companies together with ground-breaking ideas from thought leaderswithin Performance Management will provide inspiration for performance improvements in yourorganization.NetworkingThe conference is an opportunity to meet people from other companies who have similar challengesas you when it comes to Performance Management. It thus provides you with an excellentpossibility to expand your professional network.OrganizerØkonomiforum ApS is an organizer of conferences, workshops and training for finance people in privateand public organizations. We strive to impart knowledge that is ”need to know” for professionaleconomists. Through our network we keep ourselves well-informed about the business challengesand what this particular means for CFOs and finance managers.Økonomiforum cooperates with the leading providers of knowledge to economists, e.g. DJØF,CBS, and Økonomisk Ugebrev. We are official CIMA (The Chartered Institute of Management Accountants)representative in the Scandinavian countries. In all our activities, large and small, ourambition is to deliver timely, relevant and necessary knowledge.Økonomiforum ApSStore Kongensgade 59D, 3.DK-1264 Copenhagen KDenmark+45 70256085www.okonomiforum.dkwww.budgetdagen.dkinfo@okonomiforum.dk4www.budgetdagen.dkøkonomiforum • dedicated knowledge to the finance function

performance managementProgramme08:30 Registration and breakfast09:00 Welcome to the conferenceAnders Olesen, Managing Director, Basico09:10 The end of Performance Management (as we know it)Bjarte Bogsnes has headed the successful implementation of Statoil’s ground-breaking management modelwhich is referred to as “Ambition to Action”. This represents a new way of thinking about the whole PerformanceManagement process, which included the abolishment of traditional budgeting. Statoil’s management model is verymuch based on the Beyond Budgeting principles.In his presentation, Bjarte will challenge traditional Performance Management thinking. He describes a new wayforward that can make us the agile and human organizations we need to be.Bjarte Bogsnes is Chairman of Beyond Budgeting Round Table and Vice President of Performance ManagementDevelopment in the Statoil Group.10:00 Case: New Performance Management model at A.P. Moller - MaerskThe A.P. Moller - Maersk Group (est. 1904) is a worldwide conglomerate focusing on energy and transportation. TheGroup operates in more than 130 countries with a workforce of some 117,000 employees. In addition to owning oneof the world’s largest shipping companies, the Group is involved in a wide range of activities in the energy, logistics,retail, and manufacturing industries.The A.P. Moller - Maersk Group (APMM) is embracing the future and has for the past years worked on eliminatingthe traditional budget and replacing it with new tools as part of a new Performance Management process.In his presentation, Knud Winkler will focus on:• How to build a link between Group long-term strategy and Business Unit targets and activities• Ongoing performance follow-up in the form of business review meetings• Capital allocation principles; and how to drive Business Unit performance• Decentralization; how to move decision making to the frontline of the organization• Bonus schemes and Business Unit scorecardsKnud Winkler, Head of Performance & Analysis, A.P. Moller - Maersk10:50 Coffee break11:10 Case: Performance Management as part of Finance Transformation at GrundfosGrundfos has embarked on a Finance Transformation journey which is having a significant impact on the entire group.A key element of the change is a fundamentally new financial model and a new process in Performance Management.Anders Aakær Jensen, who is heading the group’s Finance Transformation and Performance Management projects,will provide information about the background and status of the projects. He will also share the perspectives onPerformance Management that have shaped the solutions that are now being implemented throughout Grundfos.Anders Aakær Jensen, Group VP Corporate Financial Planning & Analysis, Grundfos12:00 Lunch3 easy ways to register:økonomiforum • dedicated knowledge to the finance function 5www.budgetdagen.dk tilmeld@okonomiforum.dk +45 7025 6085

programme13:10 Performance and compensationHow do bonus programmes and other forms of compensation influence business performance? Can bonus programmesor variable pay schemes enhance motivation? How to ensure sustained motivation and performance? Canfinancial rewards help build a performance culture? What bonus and reward programmes are leading companiesapplying to ensure that corporate strategic targets are met? How to include elements such as values, principles, andethics in bonus programmes? How do companies ensure that bonus programmes do not lead to short-term profitmaximization at the expense of the long-term value creation?Based on research as well as on his extensive experience with corporate remuneration programmes, Ken L.Bechmann will answer these and other questions related to performance and compensation.Ken L. Bechmann, Professor, Department of Finance, Copenhagen Business School14:00 Coffee break14:10 Case: SpareBank 1 Gruppen’s Dynamic Management journeySpareBank 1 Gruppen started its Beyond Budgeting or Dynamic Management journey in 2008. Considerable developmentsand progress have been made since then. In this presentation the Group CFO Sigurd Aune, who has beenclosely involved with the implementation of Dynamic Management, will describe these developments and the successthat has been achieved.Sigurd Aune, Chief Financial Officer, SpareBank 1 Gruppen15:00 Coffee break15:20 Case: Beyond Empowerment at The Morning Star CompanyThe Morning Star Company, which is based in California, is the world’s largest tomato processor. The companybecame world famous following Gary Hamel’s article in Harvard Business Review (December 2011) in which he describedit as “the world’s most creatively managed company”. Doug Kirkpatrick will draw on his experiences in workingwith The Morning Star Company to introduce a very different approach to increase performance and be globallycompetitive. One in which the only source of sustained competitive advantage is the ability to push beyond empowermentinto the demanding, yet rewarding frontier of true self-management. What does “Performance Management”look like in such an environment and what does it require from the finance organization?Doug Kirkpatrick, Principal, Redshift3 and associate with The Morning Star Self-Management Institute16:10 RoundupAnders Olesen, Managing Director, Basico16:30 End of day6www.budgetdagen.dkøkonomiforum • dedicated knowledge to the finance function

performance managementDISCOUNTRegister before 22 Mayand get a discountPractical InformationDate: 25 June 2013Place:CharlottehavenHjørringgade 12C2100 København ØPricesOrdinary price3-for-2 discount priceDKK 5,990 ex VATDKK 3,994 ex VATDocumentation materialA binder with the speakers’ PowerPoint presentations. To beordered in connection with the registration DKK 450 ex VAT3-for-2 discountAre you two registered colleagues at the same conference,you have the possibility to invite an additional participant freeof charge. You can also use this 3-for-2 discount if you signup for three different events. The cheapest event will thenbe for free. In this way you can make your own competencepackage.Register at www.budgetdagen.dk, tilmeld@okonomiforum.dk or +45 7025 6085Special offerAll participants at this conference will receive Økonomisk Ugebrev CFO (newsletter) for threemonths and a 25-page compendium about the current challenges of a CFO at no cost.Cancellation termsCancellation deadline is one month prior to the event. Cancellationmay be done free of charge before this deadline. Forlater cancellation, but no later than 14 days before the conference,an administration fee of 50% of the conference fee willbe charged. If cancelled later than 14 days before the conference,a reduction of the conference fee will not be granted.The seat may, however, be transferred free of charge to anotherparticipant from the same company. Cancellation canonly be made in writing.Responsible providerIf you have any questions, please feel free to contact Økonomiforumat +45 7025 6085 or by mail info@okonomiforum.dk3 easy ways to register:økonomiforum • dedicated knowledge to the finance function 7www.budgetdagen.dk tilmeld@okonomiforum.dk +45 7025 6085

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