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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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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
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.
Manage Without Them is a complete disagreegation of management to allow integration of technology and peer to peer collaboration without loss of governance.
Hack by Matthew De George on May 26, 2011
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
The idea is to create a transparent value ecosystem, where organizational values (openess, innovation etc') get a numeric value (points)  that can be exchnaged between all steakholders, then simp
Hack by Yoni Assia on March 2, 2012
It is time to accord a good death to all forms of office, rank or jurisdiction based on what I call the 'archaic A's' - Age, Ancestry & Assignment.
Hack by Stephen Remedios on February 18, 2014
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
Higher education is fundamental right for a decent livelihood.
Hack by Rajesh Gandhi on December 21, 2010
Today we manage workers by headcount, jobs, roles, processes, and infrastructure.
Hack by Michael Grove on April 30, 2012

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