Author: Shalom Charles MalkaPublisher:
ISBN:
Category :
Languages : en
Pages : 0
Book Description
Few are the constructs that attract as much attention in the strategic management discourse as do the twin managerial orientations of exploration and exploitation. They are unique and distinct and share a paradoxical existence. While related, exploring and exploiting activities are incompatible and compel organizations' top managers to engage in two seemingly contradictory but necessary and indivisible acts. Organizations large and small must pursue both to ensure their vitality and continued growth in the face of an ever-changing competitive landscape. Neglecting exploitative and exploratory initiatives creates a creeping organizational paralysis that can lead to a firm's ultimate demise. This paper explores the exploitation - exploration incompatibility as a tension generator, touches on the dilemma they present managers with, and surveys existing approaches for addressing their inherent conflict. Four widely accepted solutions are discussed. We highlight top management's role in managing the exploration-exploitation orientations, and stress the importance of negotiation, collaboration, and conflict management strategies in that process. The paper concludes with a set of recommendations worthy of consideration.
