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How to Find Answers within Your Company

13 Pages Posted: 2 Aug 2010 Last revised: 13 Dec 2013

Hind Benbya

Group Sup De Co-Montpellier Business School

Marshall W. Van Alstyne

Boston University – Questrom School of Business; Massachusetts Institute of Technology (MIT) - Sloan School

Date Written: August 2, 2010

Abstract

Internal markets can improve knowledge sharing, information exchange, forecasting, innovation, and productivity within the firm. Despite their widespread popularity, however, the strategies to implement and manage markets inside organizational boundaries are not well understood. This article provides a design framework for developing knowledge markets inside firms; it provides a stage model or ‘life cycle’ of internal market development, and explores critical issues at each stage. Our framework proceeds from an analysis of more than three dozen firm implementations, and builds on three economic theories: price theory, monetary theory, and two-sided network theory. For each stage of implementation, the framework outlines the challenges faced by firms studied and identifies solutions to make knowledge markets work. The resulting blueprint adds rigor to the difficult tasks of measuring, valuing, and stimulating the production of information.

Keywords: Knowledge Markets, Internal Crowdsourcing, Virtual Currencies, Information Markets, Knowledge Management Systems, Productivity, Internal Markets, Two-Sided Networks, Price Theory, Monetary Policy, Incentives, IT Adoption, Measurement

JEL Classification: D8, E31, E52, L86, M10, O31, O32, O42

Suggested Citation

Benbya, Hind and Van Alstyne, Marshall W., How to Find Answers within Your Company (August 2, 2010). MIT Sloan Research Paper ; Sloan Management Review, V52, N2; pp 66-77, (2011); Boston U. School of Management Research Paper No. 2010-24 ; MIT Sloan Research Paper No. 5072-10. Available at SSRN: https://ssrn.com/abstract=1652432

Hind Benbya

Group Sup De Co-Montpellier Business School ( email )

2300, Avenue des Moulins
Montpellier, 34185
France
+33 4 67 10 28 19 (Phone)

HOME PAGE: http://www.cerom.org/en/faculte/benbya_hind/

Marshall W. Van Alstyne (Contact Author)

Boston University – Questrom School of Business ( email )

595 Commonwealth Avenue
Boston, MA 02215
United States
617-358-3571 (Phone)

HOME PAGE: http://questromapps.bu.edu/mgmt_new/Profiles/VanAlstyneMarshall.html

Massachusetts Institute of Technology (MIT) - Sloan School ( email )

Center for Digital Business
5 Cambridge Center - NE25, 7th Floor
Cambridge, MA 02142
United States
617-253-0768 (Phone)

HOME PAGE: http://web.mit.edu/marshall/www/home.html

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