3/28     AUTHORITY, RESPONSIBILITY AND REWARD
 
 Read:    

Wheelwright, S. C. and K. B. Clark (1992). Chapters 8 : Organization and leading product teams. Revolutionizing Product Development: Quantum Leaps in Speed, Efficiency, and Quality. New York, The Free Press: 188-217.

Aghion, P., and Tirole, J. 1994.  "The management of innovation."  Quarterly Journal of Economics, 1185-1209.
 
 Holmstrom, B. 1989. "Agency costs and innovation."  Journal of Economic Behavior and Organization, 12(3): 305-327.
 

• How do team structures effect the ability to execute a design process
•  Why might individuals work harder than the employees of large firms?
•  Why might individuals be more creative and risk taking than employees of large firms?
•  Why do Aghion and Tirole and Holmstrom argue that most research is conducted by large corporations?  Do you agree with this explanation?  What other explanations might there be?
•  What implications do these arguments have for the product development process?

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