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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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Don’t hire people the usual (and expensive) way – let them volunteer for the job instead.
This is a cost-effective and collaborative way to achieve two things: more efficient use of your company’s resources and a product that better meets the needs of your customers.  There is no reas
Hack by John Hod on March 14, 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
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
This is a case study of 3M (MinnesotaMining and  Manufacturing), a company that truly values innovation
Hack by Francis Xavier on March 14, 2011
Effective brand management has become a vital part of running a business. No successful brand is created by chance.
Story by Mike T Deane on May 25, 2020
Grant and scholarships are essentially free money. Unlike student loans, you don’t need to pay them back once your degree is complete. However, not everyone can get a grant or scholarship.
Story by Niti Sharma on April 19, 2020
Check out the latest trends in designing a perfect Instagram feed for your business.
Story by Angelina Harper on June 10, 2019