By Christopher Couturier, vice president, corporate planning and strategy management and Shawn Kelly, strategy execution manager, Millipore Corporation

      It is possible to implement rolling forecasts, initiatives, dynamic allocation of resources and portfolio management, but all of these tools will only work if the management team supports those changes and if the compensation plan is properly aligned. In the world of street guidance, even with rolling forecasts, there is an annual operating plan that defines internal targets in line with the guidance. The path to beyond budgeting must surpass that hurdle.
      In this presentation, Couturier and Kelly will talk about the Millipore approach, and how linking executive compensation and annual targets to the external world brings a healthy balance. We will share some of the challenges that we have encountered in implementing this process, as well as the rewards that we expect to reap over the long term.