- Oct 15 2008 - 8:00am
- Oct 15 2008 - 9:00am
- Oct 15 2008 - 6:30pm
- Oct 17 2008 - 8:00am
- Oct 17 2008 - 2:00pm
Rite-Solutions capitalizes on collective mind
Internal 'stock market' invests in employee ideas
Full Story: Here's an Idea: Let Everyone Have Ideas Source: New York Times, March 26th, 2006 Added on July 5th, 2007 at 5:16 pm, by Judy He[Rite-Solutions co-founders] James R. Lavoie and Joseph M. Marino keep a close eye on...an internal market where any employee can propose that the company acquire a new technology, enter a new business or make an efficiency improvement. These proposals become stocks, complete with ticker symbols, discussion lists and e-mail alerts.
...[With technology moving so quickly,] creativity is no longer about which companies have the most visionary executives, but who has the most compelling "architecture of participation."
At [Middletown-based] Rite-Solutions, the architecture of participation is both businesslike and playful. Fifty-five stocks are listed on the company's internal market, which is called Mutual Fun...employees signal their enthusiasm by investing in a stock and, better yet, volunteering to work on the project. Volunteers share in the proceeds, in the form of real money, if the stock becomes a product or delivers savings.
...one of the most valuable stocks on Mutual Fun is the stock market itself (symbol: STK). So many executives from other companies have asked to study the system that a team championed the idea of licensing it as a product...





