Breaking the inherent trade-off between search and execution will require new approaches. We describe one such approach, “co-ambidexterity,” which interweaves firms’ and customers’ search and execution processes.
Strategy is a competitive game, which always evolves in response to competition. But the magnitude of the changes in the technological, social, and natural environment are such that corporate strategy will need to be qualitatively reinvented again for new circumstances.
Being excellent at exploration (innovation) and exploitation (efficiency) at the same time is the hallmark of 2% companies—the select few that consistently outperform on both growth and profitability.
The process of developing and realizing strategy within a company has remained essentially the same: strategic planning. Leaders need a new toolkit.
Very few companies can excel at innovation and efficiency at the same time. Of the 2,500 public companies we analyzed, just 2% consistently outperform their peers on both growth and profitability during good and bad times.
It’s harder to stay on top than to get there. How can you avoid the seemingly inevitable and become an “evergreen” corporation?
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