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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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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
As bringing innovation to your personal and professional challenge?I believe that with little of innovation knowledge that we can have the important thing is to transcend in the personal and prof
Story by Geovanny Romero on December 28, 2012
Recognizing the superior value of a "Comment" versus a "Like"  was  previous episode example.How much do we value as a community when a daring mixer makes an interception and bounces back to
Hack by Frederic J.Leconte on November 5, 2014
Recession disallowed growth in certain industries. This saw a learning stagnation for years not enabling a role enhancement, especially in the knowledge based industry.
Barrier by Radhakrishnan NR on November 30, 2010
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
Don’t hire people the usual (and expensive) way – let them volunteer for the job instead.
GameChanger is a simple, flexible, and real-time innovation process run by an autonomous team at Shell that invests in helping people develop their novel ideas from genesis to proof of concept. 
Story by Russ Conser on January 7, 2013
Hindustan Unilever at last count has given over 500 CEOs to corporates across the world. In any survey of companies that consistently build world class leaders, HUL is sure to feature prominently.
Story by Stephen Remedios on July 14, 2013
Workers often find themselves too bound by deadlines and project expectations to have time to collaborate on cool, interesting, but less "high priority" ideas.
Hack by Vijay Karunamurthy on September 20, 2010

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