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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
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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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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 employee should be chosen each month to train other employees on the leading principles of their industry.
Hack by Nathan Cunningham on February 20, 2014
Corporate should empower the potential of Human Resources by treating them as Internal Customers. The value proposition must be of equal mix between Clients & Employees.
Hack by H. Omprakash on March 11, 2014
Leader's see and pursue over or under encouragement of certain people or idea's - favourite's or narscissm is in their blood .
Hack by NAVEEN KHAJANCHI on July 9, 2013
Organizations create efficiency by choosing one project over another. But is that really the way to innovate?
Hack by Laura Cerruti on September 18, 2010
It is with great anticipation, I begin to share my share excerpts of my upcoming book, The Risk Factor: Why Every Organization Needs Big Bets, Bold Characters, and the Occasional Spectacular
Corporate Intrapreneurship Programs will keep good people within the company and empower new business models.
Hack by Erik Wirsing on April 3, 2018

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