The Continuum Conception of Exploration and Exploitation: An Update to March's Theory
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Title : The Continuum Conception of Exploration and Exploitation: An Update to March's Theory Authors : Sasanka Sekhar Chanda, Sougata Ray and Bill MckelveyYear : 2018Journal : Management Volume : 21 Issue : 3Pages : 1050-1079Reformulated AbstractIn his 1991 publication, March uses an organizational learning metaphor to illustrate the concept of continuum conception of exploration and exploitation. As such, exploration has been defined as the allocation of resources towards experimentation, while exploitation is about emphasizing on execution. Formally, Marchs model entails fashioning organizational knowledge by a collective human capital (CHC). Indeed, CHC encompasses both real and misaligned beliefs by members, while organizational knowledge involves organizational knowledge that has...
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