Revolutionizing mature industries: How continuous change drives growth and innovation
To help mature firms in changing industries grow and succeed, it's important to be good at both improving current operations and exploring new ideas. This ability, called ambidexterity, involves balancing efficiency with innovation. One effective way to do this is by separating exploration and exploitation tasks within the organization. However, a more flexible approach is needed for industries with continuous change, like the automotive industry. In these cases, corporate entrepreneurship can help blend exploration and exploitation effectively. This approach can lead to better adaptation and success in dynamic environments.