Please use this identifier to cite or link to this item: https://ir.iimcal.ac.in:8443/jspui/handle/123456789/1465
Full metadata record
DC FieldValueLanguage
dc.contributor.authorChanda, Sasanka Sekhar
dc.contributor.authorRay, Sougata
dc.contributor.authorMcKelvey, Bill
dc.date.accessioned2021-08-26T06:06:43Z-
dc.date.available2021-08-26T06:06:43Z-
dc.date.issued2018
dc.identifier.urihttps://www.scopus.com/inward/record.uri?eid=2-s2.0-85054531029&partnerID=40&md5=e919423beb8962ab478877f2a7d466f3
dc.identifier.urihttps://ir.iimcal.ac.in:8443/jspui/handle/123456789/1465-
dc.descriptionChanda, Sasanka Sekhar, Indian Institute of Management, Indore, India; Ray, Sougata, Indian Institute of Management, Calcutta, India; McKelvey, Bill, Anderson School of Management, Los Angeles, CA, United States
dc.descriptionISSN/ISBN - 12864892
dc.descriptionpp.1050-1079
dc.description.abstractIn his seminal 1991 publication, March illustrates the continuum conception of exploration and exploitation by an organizational learning metaphor. Exploration involves allocating resources to experimentation. Exploitation involves doing known things better and focusing on execution. In March's formal model, members of an organization deploy their collective human capital and engage in learning activities to fashion organizational knowledge. Collective human capital (CHC) is constituted by the aggregate beliefs of members, some of which are correctly aligned with respect to an objective external reality while others are neutral or misaligned. Organizational knowledge-constituting the validated knowledge in an organization-resides in the databases, rules, forms, norms, operating procedures and other artifacts in an organization. March's computational experiments pertaining to the continuum conception suggest that more exploration is always preferable over more exploitation. We demonstrate that the reverse holds true when the CHC available in an organization is somewhat lower than that assumed in March's experiments. Our research indicates that a section of extant research is mistaken in assuming that March's formal model for the continuum conception suggests an inverted U-shaped relation between the extent of exploration and organizational outcome. Instead, the level of CHC determines whether it is rewarding to focus on exploration or exploitation. Thus, the formal model supports managerial intentionality towards exploratory and exploitative innovation through appropriate choice of the level of CHC. We call for a new "balance" discussion, focusing on the determinants of the minimum level of the non-preferred activity from among exploration and exploitation. � 1998-2018 M@n@gement.
dc.publisherSCOPUS
dc.publisherManagement (France)
dc.publisherDMSP Research Center
dc.relation.ispartofseries21(3)
dc.subjectBottom of the pyramid
dc.subjectComputational simulation
dc.subjectExploitation
dc.subjectExploration
dc.subjectHuman capital
dc.subjectOrganizational knowledge
dc.subjectOrganizational learning
dc.titleThe continuum conception of exploration and exploitation: An update to March's theory
dc.typeArticle
Appears in Collections:Strategic Management

Files in This Item:
There are no files associated with this item.


Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.