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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.

48 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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Create a networked community connecting present and ex-consultants that 1) promotes sharing of solutions and problems2) identifies resources availability for projects
Hack by Bernard Tan on July 13, 2011
During the past few years I have been presenting the Think Intelligence methodology with its TINO framework and tools in many situations.
Hack by Haim Dror on July 10, 2011
At Experian Latin America, aiming to systemize innovation as a capability in an increasingly competitive market, we implemented an ideation platform that mirrors our company’s people-oriented ma
"Lock in" of talent may squelch passion, demoralize employees and of course lead to worse fit of talent to problems.  Top down delegation of tasks utilizes fewer minds thinking about what pr
Hack by Gisela Jönsson on July 5, 2011
A shared space to which colleagues are encouraged to post divergent ideas and innovative solutions.
Hack by Silvia Colombo on June 28, 2011
The idea of our hack wants to challenge the highly unconscious, but nothing less dominant dogma of heroic leadership, epitomizing the command and control management model.
Hack by Michael Gebauer on June 20, 2011
elBulli is a well-known restaurant famous not only for his chef, Ferran Adria, but also for being a creative organization in which every year more than a hundred elaborations are put in place.At elBul
Story by Andrés Hatum on June 16, 2011
3M takes its Markets of the Future process from a cloistered analysis by corporate strategists to a global Web 2.0-enabled event, tapping the collective insight of 20,500 3Mers in over 60 countries.&n
Story by Barry K. Dayton on June 16, 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

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