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What is the explore - Exploit continuum
Helps businesses understand where to transform their strategies
What is transformative
Most difficult to do
Explore outside of tradition fields
Expand and create new growth
Cover opp to disrupt existing biz
Reqs radical change/expansion of biz model
[T] what are the pros and cons of a transformative approach
Helps position of company LT
Cons: Increased risk and uncertainty. Rare quick returns
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
What are the benefits of sustaining strategies
Low risk, low uncertainty
Immediate impact
Cover small to large scale impact
What are the cons of sustaining strategies
No protection from disruption
Doesn’t help position of companies
What is an efficiency strategy ?
Increased improvement of operations aspect
No change of business in substantial way
Eg make ops more effective by 20%
What are the benefits of efficiency ?
Low risk, low uncertainty Immediate impact
Immediate impact
Cover small to large impact
What are the cons of efficiency?
No protection from disruption
What does the explore-exploit continuum consist of ?
Transformative (explore)
Sustaining
Efficiency (exploit)