How to cultivate an ambidextrous mindset - Deepstash

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How to cultivate an ambidextrous mindset

The key to success is to balance exploration and exploitation.

  • Conduct an ambidexterity audit. Consider how much time, energy, and money you are dedicating to exploration relative to exploitation. Ensure that you are not dedicating100% to one or the other.
  • How easy would it be to switch from exploitation to exploration? Rigid processes and legacy policies can interfere with switching.
  • You can also add more flexibility to your processes at an individual level based on your current goals.

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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...

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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...

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Avoiding the success trap

Many organisations focus on the exploitation of their historically successful business activities while failing to explore new territory to improve their long-term success.
Famous examples:

  • Polaroid didn't respond to the transitio...

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CURATED FROM

CURATED BY

jan_jkk

Interested in leadership and management. Avid reader.

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How to allocate an innovation group in the company

There are seven different types of how to locate an innovation group within the company.

  1. Put the innovation group inside an existing business unit.
  2. Create a division within a current unit specifically for innovations.
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