ECOS2201 Economics of Competition and Strategy : Motivating Creativity

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ECOS2201 Economics of Competition and Strategy

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Assignment – Motivating Creativity in Organizations

1 Details

The main objective of this assignment is to get you to apply concepts learnt in the class to real world problems. In terms of allocating time, you should set aside about 2 hours a week to work on the assignment. The assignment (typed with 11 point font and double spacing) has to be submitted on Canvas through Turnitin by midnight 12th of November, 2021 (more details on the link and how to submit the assignment will be provided closer to the date).

2 Topic

For this assignment, I want you to consider a job where “creativity” plays a funda mental role. For example, creativity is a crucial input in most jobs that require some form of innovation. The purpose of this assignment is to think about the challenges of motivating creativity in an organization.

Select a job where creativity (as you choose to defifine it) plays a central role. Brieflfly describe why creativity is important in this job.

Specify an incentive conflflict (see lectures 1 to 5 for what I mean by incentive conflflict) related to creativity that arises on the job. Set up a very simple model of this incentive conflflict. For this you will need to think of why the incentive conflflict arises and the tools that can be used (e.g. monetary incentives or other instruments that you think play an important role) to address it. You do not need to solve your model.

By “set up a model”, I want you to highlight the main features of your model. This can be done with a few equations/inequalities. Or you could even describe these central features verbally. It just needs to be clear and concise.

What is the central tradeoff in your model?
What implications and insights does your model generate? For example, if you were to advise the CEO on designing incentives for creativity, what would your advice be?

3 Length

The assignment should be less than 3 pages (including references), double spaced, 11 point font.

4 Grading

The assignment counts for 15 percent of your overall grade in this unit. I will use three criteria for the grading.

. How “creative” your assignment is – for instance, in highlighting a novel in centive problem and suggesting a way to fifix it.

. How logical your argument is and the insights that your model can deliver. You want your model to strike a balance between including (the most) relevant details and being concise. This can be diffiffifficult.

. The clarity of your writing and arguments. Using a simple graph to capture some of your main ideas could help with this.

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Task:

Assignment – Motivating Creativity in Organizations

1 Details

2 Topic

3 Length

4 Grading

ECOS2201 Economics of Competition and Strategy

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