Five footnotes to exploration and exploitation in organizational learning

This study proposes five footnotes to exploration and exploitation in organizational learning. The aim is to achieve 1) an information-based reconceptualization to extend the scope of exploration and exploitation phenomena; 2) an integrated perspective on the distinction between exploration and exploitation; 3) a multi-domain multilevel taxonomy to specify the locus of exploration and exploitation; 4) a reference-based reoperationalization to advance the understanding of the essence of exploration and exploitation; and 5) change-based measurements to facilitate future empirical research on exploration and exploitation. The arguments are based on a critical review of the growing literature on exploration and exploitation in the 20-year period from 1991 to 2010. This study borrows fundamental concepts in sciences to explain the essence of exploration and exploitation and uses simulation to demonstrate their various measurements. The perspectives initiated in this study have significant implications for future multilevel and longitudinal research on exploration and exploitation. The multi-domain multilevel taxonomy built in this study has implications for balance and ambidexterity debate in the literature.