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

"We all know that the belly of the beast of bureaucracy is the budget process, right. Everybody knows that. Everyone hates it."

"The decision to take the company '90 days at a time' was inspired by a 'radical experiment' he helped implement at Genentech in 2016."

"Anderson concluded he had to find something to replace it with after the unsuccessful attempt to de-bureaucratize the budgeting process at Genentech."

"Instead of managers spending five months setting targets and forecasting, Anderson said squads come together every 90 days to discuss whether the company achieved its goals."

Read at Business Insider