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Published by: Harvard Business Publishing
Published in: "Balanced Scorecard Report", 2002

Abstract

Borealis, Europe''s leading polyolefin plastics manufacturer, replaced its traditional budget process with four core management systems, including the Balanced Scorecard. In a Q&A with The Balanced Scorecard Report, Thomas Boesen, the company''s former financial controller, describes the new budgeting and planning approach. One by-product of the new program: four systems focused on the company''s different needs eliminated much of the complexity, confusion, and inflexibility of the old budgeting system.

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Abstract

Borealis, Europe''s leading polyolefin plastics manufacturer, replaced its traditional budget process with four core management systems, including the Balanced Scorecard. In a Q&A with The Balanced Scorecard Report, Thomas Boesen, the company''s former financial controller, describes the new budgeting and planning approach. One by-product of the new program: four systems focused on the company''s different needs eliminated much of the complexity, confusion, and inflexibility of the old budgeting system.

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