Novelty: exploitation and exploration - Deepstash

Novelty: exploitation and exploration

Exploitation involves improving and refining existing products and processes. This typically happens through a focus on efficiency and execution.

In contrast, the focus of exploration is on identifying new ideas and ways of doing things. This involves things like risk-taking and experimentation.

212

2.18K reads

CURATED FROM

IDEAS CURATED BY

erbrigh

Surveyor for building control

The idea is part of this collection:

How to properly read a book

Learn more about business with this collection

How to synthesize information from multiple books

How to analyze a book

How to set reading goals

Related collections

Similar ideas to Novelty: exploitation and exploration

The difference between exploration and exploitation

  • Exploration: The focus is on experimentation, risk-taking, discovery, and innovation. People who thrive here are more flexible and comfortable with uncertainty.
  • Exploitation: The focus is on execution, refinement, and efficiency. Successfu...

The exploration-exploitation dilemma

The exploration-exploitation dilemma

Great innovators are known for risk-taking and experimentation. But optimising needs a different skill-set that relies on refinement and efficiency. It is then rare to find people that can innovate and optimise.

A typical story is that a founder launches a startup, succes...

A Good 24-hour Hackathon

  • Centers on the customer process or journey and supports a clear business target.
  • Involves employees from all relevant areas to find different ways of working a problem. 
  • Challenge participants to reimagine an existing method to try to find the most effici...

Read & Learn

20x Faster

without
deepstash

with
deepstash

with

deepstash

Personalized microlearning

100+ Learning Journeys

Access to 200,000+ ideas

Access to the mobile app

Unlimited idea saving

Unlimited history

Unlimited listening to ideas

Downloading & offline access

Supercharge your mind with one idea per day

Enter your email and spend 1 minute every day to learn something new.

Email

I agree to receive email updates