The impact of exploration-exploitation is unpredictable and there is no general rule how to trade-off between these two learning in dynamic environments (Laureiro-Martínez, Brusoni, & Zollo, 2009). It is difficult to integrate both exploration and exploitation simultaneously to improve efficiency in short terms and innovation in long-term as different firm has a different way of thinking and routines for exploration compared to those needed for exploitation (Gupta et al., 2006). Understanding how both knowledge exploration and exploitation can be implemented is crucial. Pursuing both learning is depending on how these tasks are considered either as competing or complementary source for (Gupta, Smith, & Shalley, 2006) value creation that lead to firm performance. As such, the result of pursuing both explorative and exploitative learning towards firm performance is different. Whether it is in terms of its individual effect (Isobe, Makino, & Montgomery, 2004; Yu & Yang, 2011), interaction of both learning (Z.-L. He & Wong, 2004; Zhan & Chen, 2010), imbalance (Z.-L. He & Wong, 2004; Zhan & Chen, 2010) or balance effect (Z.-L. He & Wong, 2004; Lavie & Rosenkopf, 2006; J. Lee & Bae, 2012). In many researches, the focus of a domain can be single or multiple domains. A domain refers to the field of action or thought or region which have particular characteristic (http://dictionary.reference.com). According to (Y. Li, Vanhaverbeke, & Schoenmakers, 2008) domain can be categorized in terms of supply, demand and geographic domain. The authors propose domain function should clearly be identified to provide meaningful finding. Besides that, interaction of exploration and exploitation can be conceptualized either in multiple domai... ... middle of paper ... ...to balance exploration and exploitation: specialization and ambidexterity. However, this can be done in a broader system such as both learning are implemented in two firms instead of an individual firm. One firm may specialize in exploration, and the other specializes in exploitation by controlling the mutual complement resources to avoid waste of resources, to search continuous need for exploration and exploitation, and to obtain adequate compensation for their effort through low co-specialization. However, both exploration and exploitation may be merged through routine task to become more creative; maintain their individual culture and structure together, change employee job from routine to non-routine tasks. Thus, the role of ambiguity and role of conflict will weaken the role of specialization and this create disadvantage to firm (Hjelmgren & Dubois 2013).
Europeans explored continents and countries in the 1400’s to the 1700’s, this is know as the Age of Exploration. The impact of Europeans on global trade was disease, new crops, and slavery.
In the 18th century, the Age of Exploration affected the way people lived dramatically, as demonstrated in The Mission. The Spanish Jesuits go on a Mission to convert the Guaraní Indians into Christians. These Indians live in the jungle above the Iguazu Falls in South America. The Guaraní were affected by this Mission. They were able to build communities, churchs, and homes. The Guaraní Indians were able to learn how to read and write, as well as learning each other’s languages. They created a plantation for themselves to be self-sufficient. 9 out of 10 percent of the profits they made from the plantation went back into the community. The Spanish Jesuits were also able to provide protection for the Guaraní from the slave trade. However, there were also negative effects to the Age of Exploration. The Treaty of Madrid
The article “Navigating the Age of Exploration” by Ted Widmer explains how people view American history with only the assumptions pertaining to the present boundaries of the United States instead of seeing the world as explorers did during the Age of Exploration and expanding our boundaries to understand America’s history more fully. Widmer points out that many teachers of American history don’t teach a full continental perspective extending beyond American borders, which doesn’t give credit to the various cultures that contributed to the foundation of the United States. Today, people know little about the contributions of explorers during the Age of Exploration, and their impacts on America. During the Age of Exploration, the Europeans created
The Age of Exploration was a time period when Europeans made discoveries that transformed the world. The Age of Exploration was due to scientific developments and the desire for wealth. The Age of Exploration is a period that started in the 15th century with the first Portuguese explorations. During The Age of Exploration, Europeans used many tools and technology to make discoveries that transformed the world. During The Age of Exploration many explorers wanted to explore for many different reasons. Since they wanted to explore, they did explore and they made discoveries and explorations, and as a result, many effects many effects were made on the world.
The advance of technology during the gold rush had a very positive effect on the economy, bringing in over $100 million dollars in two years. In today's currency after inflation, that’s over $2 billion dollars.
The Age of Exploration was the time for many great discoveries to rise. There was a great amount of growth for the Europeans as well. At this time period, there was a great deal of decline for the Native American people. Some of these European explorers tried to help others as well as themselves along the journey. Other Europeans helped themselves while making others suffer for their lives. A person who can be described as this is Hernando Cortes. Cortes was born around 1485 at Medellin, Spain. He is mainly known for defeating the Aztec empire and claiming Mexico for Spain. Although he claimed a piece of land for Spain, I believe that Cortes does not deserve to be called a great leader. He destroyed the Aztec civilization and wiped out mostly all the Aztec people. Not only that, Cortes used many people and as well as the Aztecs to gain more power. Killing the people and ending a powerful civilization during the age of exploration does not make Hernando Cortes a “great” leader.
The Gold rush of 1849 had a huge impact on American society at the time because it created jobs for people from all over the country. People from all over the world came to mine gold. Financially the Gold rush had an enormous impact on society, since gold was worth a significant amount of money at the time. Although the actual work of mining gold was not good. Many people lacked in hygiene and suffered from depression, disease, and broken bones. A majority of the prospectors came from the eastern United States and included a large continent of merchant confederates. Gold rushes not only had effects of the economy but on the land as well.
The Age of Exploration was one of the most important time periods to have ever impacted the world. The Age of Exploration started in the late 1400’s until the 17th Century. During this time major events take place, such as trading between nations, new sailing routes, and the establishment of the New World.
On January 24, 1848 James W. Marshall found a shiny piece of metal near the American River, which changed California and eventually the whole West forever. This event kick started the Gold Rush, which would eventually become one of the most important events in our country’s expansion Westward. The Gold Rush transformed business and expanded everything in its path. The railroad came as a result from the Gold Rush in order to bring mass amounts of people, who gave up everything to have a chance at making a fortune, out west to make their dreams come true. San Francisco was transformed from a small town by the sea, to one of the largest cities in the U.S. The California Gold Rush during the 1840’s was a significant event that brought a massive immigration movement to the west, shaped and built San Francisco’s economic growth, and opened up the western migration that united our nation from coast to coast in 1838.
Hamel G. and Breen B. (2007). The Future of Management: Aiming for an Evolutionary Advantage (Management Innovation in Action). Harvard Business School Press.
The book has used peer-reviewed resources to enhance the use of professional approaches to innovation and management strategies by the readers who uses the book. The authors have given different management strategies and their practical application in business fields. As the title states, a strategy in business require innovative strategies for efficient development of the firm. More importantly, the book offers modern innovative ideas that need to be integrated with management strategies to develop modern businesses. The innovative approach provides a practical guide to the management strategies easing the execution of the strategies in the respectful environment. The book has given the strong relationships between innovation and strategies. These relationships are known to increase profitability in business organizations that use them efficiently. It offers how business managers can create successful value through innovation. Value creation in companies is done through examining untapped markets, clients ' needs and investing in new businesses. Therefore, this remarkable book helps readers in innovating and managing business
of a firm to attain new forms of competitive advantage (Müller, 2011). It is due to these
Nowadays, entrepreneurship becomes most popular career, where our government encourages our graduated student to involve in business so that unemployment will not happen in our country. Policymakers, academics, and researcher agree that entrepreneurship is a vital route to economic advancement for both developed and developing economics (Zelealem et al., 2004). Entrepreneurship has many types for example small business and others. Today small business, particularly the new ones, is the main vehicle for entrepreneurship, contributing not just to employment, social and political stability, but also to innovation and competitive power (Thurik & Wennekers, 2004).
Entrepreneurship - a special kind of activity. Its constant conditions are limited resources, competition and uncertainty of the situation. The main tools of the entrepreneur are: thrift, cooperation and innovation. Consequently, enterprise is the independent economic entity, with rights of a legal entity, which is based on the use of labor collective property produces and sells products, works, and provides services.
One of the most integral qualities of an entrepreneur as well as that of a successful business is the degree of innovation it possesses. Innovation refers to the creation of new ideas, improvement of existing production processes, and effective problem solving. Innovation allows for increased efficiency in a business, which in turn increases its supply potential and productive capacity. Being innovative may involve either improving upon old methods o...