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Exploration and exploitation strategies, profit performance, and the mediating role of strategic learning: Escaping the exploitation trap
University of Vaasa, Department of Management.
University of Vaasa, Department of Management.
Department of Economics and Business Administration, University of Duisburg-Essen.
2012 (English)In: Strategic Entrepreneurship Journal, ISSN 1932-4391, E-ISSN 1932-443X, Vol. 6, no 1, p. 18-41Article in journal (Refereed) Published
Abstract [en]

This study focuses on the role of strategic learning as a mediating construct between opportunity-seeking (exploration) and advantage-seeking (exploitation) strategies and profit performance. Prior studies argue that the effect of these core elements of strategic entrepreneurship (exploration and exploitation) cannot be fully captured through their direct effects on profit performance, but that this relationship consists of mediating factors. This study proposes that the process of strategic learning, through its intraorganizational elements that enable the dissemination, interpretation, and implementation of strategic knowledge, enables firms to capitalize on the benefits of both exploration and exploitation strategies. Results from 206 Finnish software firms indicate that strategic learning fully mediates the relationship between exploration, exploitation, and profit performance. The result contributes by stressing the importance of strategic learning processes, especially in conjunction with entrepreneurial exploration strategies. Furthermore, the study demonstrates that the effect from exploration to strategic learning is moderated by the level of exploitation. This moderation effect suggests that the strategic learning is limited, being a path dependent capability that favors exploitation over exploration when stretched. However, strategic learning effectively allows both types of strategies to improve profit performance

Place, publisher, year, edition, pages
2012. Vol. 6, no 1, p. 18-41
National Category
Other Engineering and Technologies not elsewhere specified
Research subject
Entrepreneurship and Innovation
Identifiers
URN: urn:nbn:se:ltu:diva-10997DOI: 10.1002/sej.1126Local ID: 9e45f8b9-2930-4ced-bc37-72ecbb3c2727OAI: oai:DiVA.org:ltu-10997DiVA, id: diva2:983946
Note
Upprättat; 2012; 20141015 (andbra)Available from: 2016-09-29 Created: 2016-09-29 Last updated: 2017-11-24Bibliographically approved

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Kohtamäki, Marko

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