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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.

44 Stories
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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Don’t hire people the usual (and expensive) way – let them volunteer for the job instead.
A framework is needed to make an effective community in an organization,  a framework which engages the whole organization as a community without ranks and allows a free f
Hack by virender vyas on March 21, 2011
Setting up an organisational system that enables a market-like scenario for supporting and funding innovative ideas.
Hack by Mathew J Varghese on March 20, 2011
With globalization and technology, skills become obsolete rapidly. The traditional approach of performing specialist work is less effective.
This is a case study of 3M (MinnesotaMining and  Manufacturing), a company that truly values innovation
Hack by Francis Xavier on March 14, 2011
This is a cost-effective and collaborative way to achieve two things: more efficient use of your company’s resources and a product that better meets the needs of your customers.  There is no reas
Hack by John Hod on March 14, 2011
Organisational flexibility is a much discussed topic.The purposes of this “hack” are:Providing a model which is designed to enhance organisational flexibility;Ensuring involvement of employees;Making
Hack by Fan Zhang on March 1, 2011
Reaching right levels of the organisation can be a difficult task even for the employees.
Hack by Aleksandar Zivaljevic on February 27, 2011

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