Sunday, March 26, 2006

Market Dynamics For Idea Validation

Here is an interesting idea. Use market dynamics to weed the good ideas from the bad ones. I just happened to read an interesting article from today's New York Times ("Here's an Idea: Let Everyone Have Ideas" by William C. Taylor) that outlines just that. I personally find the idea quite appealing. The premises go as follows:
  • Allow anyone in your company to have Initial Public Offerings (IPOs) for their ideas.
  • Have every employee allowed to trade $10,000 of those idea stocks.
  • Let the market dynamics decide.
This is not a completely novel idea but Rite-Solutions has a product (The Innovation Engine) that does just that. A modern take on the suggestion box...

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