Strategy » Strategic Ambidexterity
Very few companies can excel at innovation and efficiency at the same time. How can organizations best balance exploration and exploitation?
Operations have always been foundational to competitive advantage, but the nature of this relationship is shifting.
In highly ambiguous and challenging contexts, a random approach to decision-making confers a number of advantages.
Drawing lessons from digital-first companies, incumbent firms should embrace their clients’ desire to explore and experiment, treat them as partners in the creative process, and close the gap between innovation and execution.
The next era of competition is at hand. To succeed in an environment of high uncertainty, greater short-term pressure, and tighter resource constraints, companies must become even better and more efficient at developing options for future advantage while continuing to perform in the present.
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.
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