Senior leaders often want to know how they can build an environment to allow innovation to thrive. In order to do that, they first need to realise that business activities live on an uncertainty continuum - that we call the Explore-Exploit Continuum - and that creating new growth engines and managing existing business(es) are on opposite ends of this continuum. A better understanding of the Explore-Exploit Continuum will help executives and innovation teams put in place the right investment and management processes, the required skill set and culture to explore new business ideas as successfully as they exploit current businesses.
