The Interplay Between Exploration and Exploitation

2006/08/01 by Anil K. Gupta, Ken G. Smith, Christina E. Shalley · 3,194 citations
Business, Management and Accounting · Engineering · Psychology · Social Sciences · #Adaptation (eye) #Ambidexterity #Balance (ability) #Business #Computer science #Economics #Engineering #Experimental Behavioral Economics Studies #Innovation and Knowledge Management #Innovation and Socioeconomic Development #Knowledge management #Management science #Process management #Psychology #Sociology #Underpinning #Work (physics)

paper · doi:10.5465/amj.2006.22083026

published in Academy of Management Journal 49(4), 693-706 (Academy of Management)

openalex publication_date 2006/08/01 · openalex created_date 2025/10/10 · openalex updated_date 2026/08/05

Abstract

Exploration and exploitation have emerged as the twin concepts underpinning organizational adaptation research, yet some central issues related to them remain ambiguous. We address four related questions here: What do exploration and exploitation mean? Are they two ends of a continuum or orthogonal to each other? How should organizations achieve balance between exploration and exploitation—via ambidexterity or punctuated equilibrium? Finally, must all organizations strive for a balance, or is specialization in exploitation or exploration sometimes sufficient for long-run success? We summarize the contributions of the work in this special research forum and highlight important directions for future research.

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Related

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