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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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In today's competitive world, the option for low performers are very less and they are forced to do their job or quit the job.Is there something problem in their attitude / capability / understanding
Hack by H. Omprakash on March 14, 2014
It’s easy to get caught up in what we think needs to be done, today, and always putting future projects on the back burner. When we do this, though, we typically never get to those projects.
Hack by Marton Jojarth on October 8, 2015
The biggest problem of capitalism is that's not enough people are working on the capitalism's biggest problem: the lack of innovation (as counter-intuitive as it sounds).
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
Thought Processes for any kind of issues, growth, ideas are good sign for any company to empower their Human potentials.
Hack by H. Omprakash on March 31, 2014
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
Ever seen the reality tv show Rob and Big? Well its is a prime example of a business in the form Management 2.0 .
Hack by Kenny Meyer on July 18, 2011
Our focus will be an internal market for innovative ideas that promotes active work outside of an individual’s core job function.  Because of the tremendous span of time zones and geographies com
We are in a transitory phase of realizing that creativity is an inherent ability within all of us.
Hack by Atna on July 19, 2011
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

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