EXPLORATION AND EXPLOITATION IN SCIENCE: THEIR IMPACT ON SCIENTIFIC AND TECHNOLOGICAL OUTCOMES

G. Steven McMillan ()
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G. Steven McMillan: Penn State Abington, Abington, PA, USA

International Journal of Innovation Management (ijim), 2015, vol. 19, issue 02, 1-11

Abstract: Since March's 1991 seminal article, exploration and exploitation have been extensively studied in the areas of organisational learning, strategic renewal, and technological innovation [Li et al.(2008)]. However, much of the research has focused on exploration as science-based and exploitation as technology-based. This current research effort utilises a unique database to examine the phenomena only in the science arena. The results are that exploration efforts lead to science outcomes, and that both exploration and exploitation efforts have a positive impact on technological outcomes. The managerial implications of these findings are discussed.

Keywords: Exploration; exploitation; science; technology (search for similar items in EconPapers)
Date: 2015
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Citations: View citations in EconPapers (3)

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DOI: 10.1142/S1363919615500176

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