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The present research reviews the managerial literature concerning the balance between exploration and exploitation. With this regard, 56 empirical studies published on 19 journals have been selected and analyzed. Papers cover multiple research issues, adopt several methodological approaches, such as case study, econometric, and simulation techniques, and are distinguished according to the level of analysis: individual, single organization, or interorganizational context. Each of these research streams is discussed presenting the papers in terms of methodology and results. Finally, some...

Starting from the increasing difficulties firms face to create new value for customers and achieve competitive advantage, this book proposes an innovative strategy to sustain innovation at the product level, based on the notion of tradition. Specifically, the authors argue that firms may successfully innovate, exploiting the whole set of competencies, knowledge, values and culture that characterize a specific firm, territory, and/or age. Analyzing several international case studies, this book clearly shows how tradition may be effectively used, allowing companies to create successful new...