Balancing exploration and exploitation by creating organizational think tanks

The book "Balancing Exploration and Exploitation by Creating Organizational Think Tanks" by Tatjana-Xenia Puhan addresses the crucial balance between exploration and exploitation in knowledge management. Exploration refers to the generation of new knowledge through non-directed search processes, while exploitation describes the targeted use of existing knowledge. These two processes are in a tension-filled relationship that presents challenges for organizations aiming to effectively shape their knowledge management strategies. Puhan argues that neglecting exploration can lead to a lack of innovation capability. She introduces the concept of ambidexterity, which promotes the simultaneous and balanced pursuit of both activities. Her approach to inter-organizational ambidexterity is particularly innovative, as it involves different organizations collaborating within a network to optimize exploration and exploitation. Think tanks are highlighted as key players in this process, serving as sources of ideas and advisors.