Iterative Transitions Between Exploration and Exploitation: Experiences from the Finnish Manufacturing Industry

Helinä Melkas (), Tuomo Uotila and Tuija Oikarinen
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Helinä Melkas: Lappeenranta University of Technology
Tuomo Uotila: Lappeenranta University of Technology
Tuija Oikarinen: Lappeenranta University of Technology

Chapter Chapter 6 in Innovative Quality Improvements in Operations, 2017, pp 91-111 from Springer

Abstract: Abstract This chapter describes methods for advancing exploration and exploitation in industrial settings and presents the experiences of Finnish manufacturing companies that have used such methods. The chapter explores the foundations of exploration and exploitation, and incorporates also both the absorptive capacity and the analytical and interpretative innovation processes into a novel framework for different types of networks, including production, development and innovation networks. In addition to the theoretical considerations, this chapter includes introductions to the various renewal methods and manufacturing company case studies. This work will provide insight into the practical implementation of exploration and exploitation activities and into overcoming the dilemma of transitioning between exploration and exploitation activities in different contexts.

Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:spr:isochp:978-3-319-55985-8_6

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DOI: 10.1007/978-3-319-55985-8_6

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