HANDS - OF - GOVERNANCE & INNOVATION MARKETS By Industrial PhD - student Robert Schønrock Nielsen, Codan Forsikring & Aarhus School of Business, University of Aarhus, 25.05.2010. EXAMPLES OF WORLD CLASS INNOVATORS. INNOVATORS.
HANDS - OF - GOVERNANCE &INNOVATION MARKETS
By Industrial PhD - student Robert Schønrock Nielsen, CodanForsikring &
Aarhus School of Business, University of Aarhus, 25.05.2010
… IS BY ESTABLISH INNOVATION MARKETS (INTERNAL MARKET) FOR CATALYZING INNOVATIVE POWER WITHIN THE ORGANIZATION
“(…) he intends only his own gain, and he is in this, as in may other cases, led by an invisible hand to promote and end which was no part of his intention“ Adam Smith Wealth of Nation, Book lV.
8Smith, A.(1776) :An Inquiry into the Nature and Causes of the Wealth of Nations
“The man of system … seems to imagine that he can arrange the different members of a great society with as much ease as the hand arranges the different pieces upon a chessboard. He does not consider that the pieces upon the chessboard have no other principle of motion that which the hand impresses upon them; but that, in the great chessboard of human society, every single piece has a principle of motion of its own, altogether different from that which the legislation might choose to impress upon it” (Adam Smith in Hayek 1973:35).
Hayek, F.A  2003: Law, Legislation and Liberty Volume 1 Rules and Order.
“(…) stumble upon establishments, which are indeed the result of human action, but not the execution of any human design” (Ferguson 1767).
“By tracing the combined effects of individual actions, we discover that many of the institutions on which human achievements rest have arisen and functioning without a designing and directing mind “(Hayek 1948:6-7).
Ferguson, A. (1966 : 122): An Essay of the History of Civil Society, new ed. Edinburgh University Press. & Hayek, F. A. (1948): Individualism: True and false in Individual and economic order. University of Chigago Press.
Spontaneous order in the interactions of the members of society is something to which everyone contributes, from everyone benefits, which everyone normally takes for granted, but which individuals rarely understand” (Witt 1997:52).
11 Witt, U. (1997):The Hayekian Puzzle: Spontaneous Order and the Business Cycle, Scottish Journal of Political Economy Vol . 44, 44-58
12Hamel, G. (2007): The Future of Management
Hamel, G. (2007): The Future of Management
14Hamel , G. The Future of Management 2009 & Hamel, G. (1999): Bringing Silicon Valley Inside, Harvard Business Review
Pridiction Markets to capture and screen ideasusing the organizationalwisdom of crowds.When top managmentprioritizeprojects it use the collectiveknowledge of leaders and co-workers.
Egelhoff and Frese (2009): Understanding managers´preference to internal markets versus businses planning: A comparative study of German and US. Managers, Journal of Internal Management 15,
INNOVATION MARKET - AN INTERNAL MARKETPLACE INSIDE ORGANIZATIONS TO FOSTER IDEAS AND CATALYSE INNOVATIVE POWER
INNOVATION FUND – A FUND THAT SUPPORT THE DEVELOPMENT OF INNOVATIONS AND AND ADMINISTRATE INNOVATION REWARDS
INNOVATION REWARD - A PERFORMANCE-BASED REWARD THAT BENEFITS CORPORATE ENTREPRENOURS FOR SUCCESFULL INNOVATIONS
24Spontanzing is an organizational principle developed in my PhD thesis Liberalization of organization. A Thesis Regarding Innovation in Organization 2010 Forthcomning
Edge of chaos
(spontanenousorder & organization)
25Stacey, R. (1993): Strategy as Order Emerging from Chaos + Nielsen, R.S. (2010): Liberalization of Organization. A Thesis Regarding Innovation in Organization 2010. Forthcomning (PhD Thesis)
Challenge silo structures
Improved customer focus
Enforces an entrepreneurial climate
Transparent decision process