Limitations of Hierarchy: After studying
What are markets? A market is a place where buyers and sellers find each other, players compete for best goods & resources, where individuals exercise choice. It is also a mechanism for resource allocation and it is supported by social network of brokers, buyers and sellers.
Assessing your internal innovation bazaar: Do you have a market for ideas? Well, it will depend upon who is suggesting the ideas and who is selecting them. If only senior executives from current businesses suggest ideas and they are the ones who select them, result is known before the exam. On the other hand, if you have an ecosystem of customers, suppliers and employees who suggest ideas and a panel separate from current business selects them there is a good chance that radical ideas will survive. Extending these questions for the other two markets (capital and talent) I have created following three dimensional dashboard. Can you assess efficiency of your internal innovation market?