Post by arfanho7 on Feb 22, 2024 2:30:19 GMT -8
As the number of top rated competitors increased however a discouragement effect kicked in. And once they were up against four to six high rated competitors they were likely to stop investing altogether. Overall Gross found that participants were most given to produce designs that were at least percent original when they faced just one or two competitors—the “Goldilocks” zone where competitive pressure is neither too low nor too hot just right and creativity shines forth.
Gross sees this as a very clear indication of the relative risks and rewards of the creative process. “Taking a chance on an untested new idea is risky and if the potential payoffs America Cell Phone Number List are too low—in the probability that it will either improve on your existing product or produce incremental market share in a crowded market—then it’s not worth pursuing ” he says. IMPLICATIONS FOR MANAGERS The implication for managers is that sharp incentives can be effective in eliciting creative effort from employees—but require balanced competition to function most effectively.
“As a professor of mine once put it you want to scatter your seeds widely to see what sprouts ” says Gross. “But you ought not try to make a thousand flowers bloom or else they will all turn out weak. To get a few beautiful blossoms you have to thin the flowers to allow the strong ones to grow.” employees with a problem to see what solutions they develop but then focusing the competition to just a few people with the most powerful ideas transitioning the other employees to projects where they might have comparative advantage.
Gross sees this as a very clear indication of the relative risks and rewards of the creative process. “Taking a chance on an untested new idea is risky and if the potential payoffs America Cell Phone Number List are too low—in the probability that it will either improve on your existing product or produce incremental market share in a crowded market—then it’s not worth pursuing ” he says. IMPLICATIONS FOR MANAGERS The implication for managers is that sharp incentives can be effective in eliciting creative effort from employees—but require balanced competition to function most effectively.
“As a professor of mine once put it you want to scatter your seeds widely to see what sprouts ” says Gross. “But you ought not try to make a thousand flowers bloom or else they will all turn out weak. To get a few beautiful blossoms you have to thin the flowers to allow the strong ones to grow.” employees with a problem to see what solutions they develop but then focusing the competition to just a few people with the most powerful ideas transitioning the other employees to projects where they might have comparative advantage.