<ul><li>Bayer's CEO Bill Anderson overhauled the company's budget system by introducing 90-day cycles to reduce bureaucracy and improve operational performance.</li><li>The company reorganizes teams every 90 days and has also cut 5,500 managerial positions as part of its restructuring approach.</li><li>Anderson replaced annual budget discussions with 90-day cycles, while managers discuss the goals, resource usage, and focus areas.</li><li>The new operating model, called 'Dynamic Shared Ownership', aims to reduce hierarchies, eliminate bureaucracy, streamline structures, and speed up the decision-making process.</li></ul>

Bayer's CEO said budgets represent the worst of corporate bureaucracy. He decided to turn the process on its head.

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