Week 1

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11 Terms

1
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What is the explore - Exploit continuum

Helps businesses understand where to transform their strategies

2
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What is transformative

  1. Most difficult to do

  2. Explore outside of tradition fields

    1. Expand and create new growth

    2. Cover opp to disrupt existing biz

  3. Reqs radical change/expansion of biz model

3
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[T] what are the pros and cons of a transformative approach

  1. Helps position of company LT

  2. Cons: Increased risk and uncertainty. Rare quick returns

4
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What are sustaining strategies

1.explore opportunities that build on existing models to strengthen and keep business alive

Eg: new products, service, support, tech and geo expansion

5
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What are the benefits of sustaining strategies

  1. Low risk, low uncertainty

  2. Immediate impact

  3. Cover small to large scale impact

6
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What are the cons of sustaining strategies

  1. No protection from disruption

  2. Doesn’t help position of companies

7
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What is an efficiency strategy ?

  1. Increased improvement of operations aspect

  2. No change of business in substantial way

    1. Eg make ops more effective by 20%

8
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What are the benefits of efficiency ?

  1. Low risk, low uncertainty Immediate impact

  2. Immediate impact

  3. Cover small to large impact

9
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What are the cons of efficiency?

No protection from disruption

10
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11
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What does the explore-exploit continuum consist of ?

  1. Transformative (explore)

  2. Sustaining

  3. Efficiency (exploit)