How would a company maintain an appropriate balance between exploration and exploitation?.
I’m working on a Management exercise and need support.
Consider any real-world business, large or small: a restaurant in your community, a barber shop, a health club, a large manufacturer like General Motors, a large retailer like Wal Mart, and so forth.
- Explain how that company would maintain an appropriate balance between exploration and exploitation.
- Describe briefly the place of that company in the industry it is in and then answer one or more of the following questions:
Does it capture the value it creates?
Who are its competitors?
Does it have entry and incumbency advantages?
Who has vertical (buyer or supplier) power: the company or someone else?