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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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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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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
TINO - Consultancy that solves problems with much fewer advisors and consultants  In recent years I have met with a great number of consultants.
Hack by Haim Dror on July 24, 2011
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
Don’t hire people the usual (and expensive) way – let them volunteer for the job instead.
LinkedIn, as a business-oriented social networking site, in my view, can create conditions to allow most of its users, that is, all registered identified professional talents, to willingly co-found a
Hack by Aaron Brook on July 6, 2014
The trend has been for recently to consider H.R. as a set of high value specialties.That is technically true and carrying risks as far as efficiency is concerned.
Hack by Frederic J.Leconte on July 17, 2013
Co-Authored By Audrey D.
Decisions to be made have to be put on a platform (IT-based) in order that everyone can access them and enter his/her knowledge or point of view.
Hack by Erwin Pfuhler on July 29, 2014
Have an online social network for the company inviting Hacks from all employees in the company by project or department or function.
Hack by Varun Dinodiya on November 27, 2010
Learning agility is a business imperative for organizations to stay relevant in the marketOrganizations should offer sponsorships and dedicated time to employees to pursue their educational interests
Hack by Daniele Pigni on November 27, 2018

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