“Organizations may engage primarily in exploration. . .”

“Management theorist James March . . . posited that organizations may engage primarily in exploration, the search for new knowledge. . . , or exploitation, the maximization of payoff from existing knowledge. . . . Both activities can create enormous value, and both are critical to the success of any business organization. But they are hard to engage in simultaneously; most often, organizations choose to focus on one activity, either exploration or exploitation, to the exclusion of the other and to their own detriment.”

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“Organizations may engage primarily in exploration. . .”

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