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The economic principle I’m exploring is “ Because of scarcity, people choose. All choices have an opportunity cost.”
My research question to help me study the economic principle is “How do animation production project leaders
choose and develop a story idea (on a limited budget) when planning for a film to appeal best to an audience?”.
I’m focusing on the hiring process.
choose and develop a story idea (on a limited budget) when planning for a film to appeal best to an audience?”.
I’m focusing on the hiring process.
The article published in Harvard Business Review titled “How Pixar Fosters Collective Creativity” demonstrates this
economic principle because it shows how human and physical capital are selected in animation projects according to
what will best maximize utility.
economic principle because it shows how human and physical capital are selected in animation projects according to
what will best maximize utility.
First, project leaders hire for specific ideas instead of for potential creativity. Those working on projects must not
fear risk-taking with ideas; taking risks helps best prevent repetitiveness and assure that the ultimate story told is
unique. And minimizing the inherent risk with producing unique films is accomplished by hiring talent.
fear risk-taking with ideas; taking risks helps best prevent repetitiveness and assure that the ultimate story told is
unique. And minimizing the inherent risk with producing unique films is accomplished by hiring talent.
Second, acquiring physical capital based on the promise of innovation and improvement is key. For example,
“Steve Jobs bought the computer division of Lucasfilm” as he saw the potential to incorporate and develop the use
of computer animation in Disney films. Jobs is today known for having promoted the success of
computer-generated animation which continues to be enhanced today.
“Steve Jobs bought the computer division of Lucasfilm” as he saw the potential to incorporate and develop the use
of computer animation in Disney films. Jobs is today known for having promoted the success of
computer-generated animation which continues to be enhanced today.
Third, an ultimate balance is struck between hiring people versus ideas. In order to make the best use of quality
ideas, an efficient team is necessary. As Ed Catmull of Pixar puts it, “if you give a good idea to a mediocre team,
they will screw it up; if you give a mediocre idea to a great team, they will either fix it or throw it away and come
up with something that works.”
ideas, an efficient team is necessary. As Ed Catmull of Pixar puts it, “if you give a good idea to a mediocre team,
they will screw it up; if you give a mediocre idea to a great team, they will either fix it or throw it away and come
up with something that works.”
In my next blog post I will research: How is a story idea first presented and approved? Who backs this?
I found it very interesting that Steve jobs bought the computer division of Lucas films, that something I never knew and it was a very smart move to make. I think it could be interesting if you talk about Pixar, I don't know much about their animation process, but I do like their movies and can relate to them.
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