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Create internal markets for ideas, talent & resources

“Organizations need a resource allocation process that more accurately mimics the selection pressures of a real market.”

Funding decisions in corporations are usually made at the top and are heavily influenced by political factors. That’s why companies over-invest in the past and underfund the future. By contrast, resource allocation in a market-based system like the New York Stock Exchange is decentralized and apolitical. While markets are obviously vulnerable to short-term distortions, in the long run they’re better than big organizations at getting the right resources behind the right opportunities. To make resource allocation more flexible and dynamic, companies must create internal markets where legacy programs and new projects compete on an equal footing for talent and cash.

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71 Hacks
5 Barriers

Create internal markets for ideas, talent & resources

“Organizations need a resource allocation process that more accurately mimics the selection pressures of a real market.”

Funding decisions in corporations are usually made at the top and are heavily influenced by political factors. That’s why companies over-invest in the past and underfund the future. By contrast, resource allocation in a market-based system like the New York Stock Exchange is decentralized and apolitical. While markets are obviously vulnerable to short-term distortions, in the long run they’re better than big organizations at getting the right resources behind the right opportunities. To make resource allocation more flexible and dynamic, companies must create internal markets where legacy programs and new projects compete on an equal footing for talent and cash.

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BACKGROUND It was The Economist’s Vijay Vaitheeswaran who coined the term “micropower” to refer to sources of electricity that are relatively small, modular, mass-producible, quick-to-dep
Hack by patrick chanda on June 24, 2018
Motivating and equipping sales people with effective selling skills are two of the most confounding and widely misunderstood challenges in management.
Hack by Victor Kwan on June 14, 2011
An idea gathering platform can be used for more than just solutions to problems, it can be used to source inputs into an innovation methodology that can be insightful and build a more innovative cultu
Hack by Jeffry Birkmeier on March 19, 2018
This hack is a review on how we can learn from the past to make our future better " Innovation is the only way out".  The recession of 2009 was the end of the global development cycle which
Hack by Vlad Ivanov on May 7, 2012
Here is an easy parable about what I would call "stone heaps" in organisations. This short story does not introduce innovative concepts about management and leadership per se.
Hack by Sven Behrendt on October 13, 2011
Higher education is fundamental right for a decent livelihood.
Hack by Rajesh Gandhi on December 21, 2010
In today’s challenging healthcare industry where every team member is relied upon to deliver an exceptional patient experience each and every day, workforce engagement is pivotal to success.
Ever seen the reality tv show Rob and Big? Well its is a prime example of a business in the form Management 2.0 .
Hack by Kenny Meyer on July 18, 2011
The biggest problem of capitalism is that's not enough people are working on the capitalism's biggest problem: the lack of innovation (as counter-intuitive as it sounds).
Strategy formulation looks at external factors, craft strategic initiatives then mobilize resources including talent. But firms still generate weak strategies and execute poorly.
Hack by Victor Magdaraog on January 20, 2011

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