Unlocking Success: How Firms Master Innovation and Growth Simultaneously
Firms need to balance exploring new ideas and exploiting current ones to succeed. This can be tricky because these two tasks have different goals. The article suggests a new approach called dynamic ambidexterity to help firms manage both exploration and exploitation. To do this, firms should have a mix of different strategies at different levels of the company. By using dynamic ambidexterity, firms can improve their chances of long-term success and growth.