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Exploration and Exploitation - Why is this Important?


Why Do Companies Fail?

"So if we take a long-term perspective, we explore. If we take a short-term perspective, we exploit. Small children, they explore all day. All day it's about exploration. As we grow older, we explore less because we have more knowledge to exploit on. The same goes for companies. Companies become, by nature, less innovative as they become more competent."

Time Investment to Watch - 10:38

Exploration and Exploitation