Yeditepe International Research Conference on Business Strategies-YIRCoBS 2019

Exploration and exploitation are two concepts addressing creating value by entailing the development of new knowledge and experimenting for more radical innovation, and by extending current knowledge or using past knowledge to innovate incrementally respectively.

In order to survive and prosper, and thus, gain competitive advantage, firms must be perfect in both exploitative and exploratory activities. To be able to accomplish these activities, companies invest their attention and resources on these activities. Making investment choices among exploration and exploitation influences the now and the future of the firms.

While these two concepts are so important, the fact that there is still no consensus on their conceptual definitions and measurements is causing these concepts to be incompletely understood.

Whether these two concepts are competing to each other or complementary, whether firms have to achieve balance between the two or they do better by cycling through periods of exploration and exploitation, whether firms perform better by specializing solely on exploration, and last, but not least, how to balance exploration and exploitation across multiple domains are the issues that are needed to be understood.

As companies struggle to survive and become competitive, this situation reflects on the economic growth and the increase in employment opportunities in their country.

We invite academic researchers, company executives and public policy makers to come together to discuss and understand these issues at YIRCoBS'19.

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