Leadership key to balancing innovation and efficiency in organizations
Innovation requires balancing change and stability. This study looked at how leaders can help organizations do this by focusing on both exploring new ideas and exploiting current functions. They interviewed people to learn how leaders can make structural changes to support this balance. The research found that organizations can use a model to understand current strategies and plan for the future. Leaders need specific skills to manage both current business and new ventures effectively. This study offers a framework for organizations to balance exploring new ideas and exploiting current functions at the same time.