Limitations in Exploration and Exploitation Processes during the Emergence of Strategic Decision-Making: A Literature Review

Decision problems and their relationship with the moments in time is a theme to be explored in the strategy studies field. In fact, several scholars conceptualize strategy from a decision-making perspective, framing it as a sequence of interconnected decisions that involve the allocation of resource...

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Detalhes bibliográficos
Autores: Hernández-Betancur, Juan-Esteban, García-Valdecasas, J. Ignacio, Montoya-Restrepo, Iván A., Zuluaga Álvarez, Alejandra María
Formato: artículo
Estado:Versión publicada
Fecha de publicación:2025
País:España
Recursos:Universidad de Valladolid
Repositorio:UVaDOC. Repositorio Documental de la Universidad de Valladolid
OAI Identifier:oai:uvadoc.uva.es:10324/80532
Acesso em linha:https://doi.org/10.15446/innovar.v35n96.107110
https://uvadoc.uva.es/handle/10324/80532
Access Level:acceso abierto
Palavra-chave:Ambidexterity, decision making, exploitation, exploration, strategy
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spelling Limitations in Exploration and Exploitation Processes during the Emergence of Strategic Decision-Making: A Literature ReviewHernández-Betancur, Juan-EstebanGarcía-Valdecasas, J. IgnacioMontoya-Restrepo, Iván A.Zuluaga Álvarez, Alejandra MaríaAmbidexterity, decision making, exploitation, exploration, strategyDecision problems and their relationship with the moments in time is a theme to be explored in the strategy studies field. In fact, several scholars conceptualize strategy from a decision-making perspective, framing it as a sequence of interconnected decisions that involve the allocation of resources necessary for implementation. One way to understand the timing of strategic decisions is through the lens of deliberate versus emergent strategies. Within this framework, organizational ambidexterity—defined as the dynamic balance between exploration and exploitation processes—has been proposed as a key cognitive dimension influencing managerial decision-making. These processes, grounded in organizational learning theory, are subject to constraints such as temporal myopia, which can hinder the ability to appropriately weigh short-term outcomes against long-term implications. In this context, the present study aims to identify the limitations inherent in exploration and exploitation processes that may influence strategy formulation, as discussed in the existing literature. This objective was pursued through a systematic literature review using the Scopus database. The review focused on scholarly contributions addressing decision-making in relation to exploration and exploitation, and the results were categorized into substantial, applied, and complementary contributions. As a result, this study reveals a set of thematic categories —including resources, term, type of activity, background, structure, knowledge, and strategy— that differentiate exploration from exploitation processes. These categories also help illuminate the limitations of each process and their potential influence on the timing and nature of strategic decisions.2025info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionapplication/pdfhttps://doi.org/10.15446/innovar.v35n96.107110https://uvadoc.uva.es/handle/10324/80532reponame:UVaDOC. Repositorio Documental de la Universidad de Valladolidinstname:Universidad de ValladolidInglésinfo:eu-repo/semantics/openAccessoai:uvadoc.uva.es:10324/805322026-06-13T12:44:47Z
dc.title.none.fl_str_mv Limitations in Exploration and Exploitation Processes during the Emergence of Strategic Decision-Making: A Literature Review
title Limitations in Exploration and Exploitation Processes during the Emergence of Strategic Decision-Making: A Literature Review
spellingShingle Limitations in Exploration and Exploitation Processes during the Emergence of Strategic Decision-Making: A Literature Review
Hernández-Betancur, Juan-Esteban
Ambidexterity, decision making, exploitation, exploration, strategy
title_short Limitations in Exploration and Exploitation Processes during the Emergence of Strategic Decision-Making: A Literature Review
title_full Limitations in Exploration and Exploitation Processes during the Emergence of Strategic Decision-Making: A Literature Review
title_fullStr Limitations in Exploration and Exploitation Processes during the Emergence of Strategic Decision-Making: A Literature Review
title_full_unstemmed Limitations in Exploration and Exploitation Processes during the Emergence of Strategic Decision-Making: A Literature Review
title_sort Limitations in Exploration and Exploitation Processes during the Emergence of Strategic Decision-Making: A Literature Review
dc.creator.none.fl_str_mv Hernández-Betancur, Juan-Esteban
García-Valdecasas, J. Ignacio
Montoya-Restrepo, Iván A.
Zuluaga Álvarez, Alejandra María
author Hernández-Betancur, Juan-Esteban
author_facet Hernández-Betancur, Juan-Esteban
García-Valdecasas, J. Ignacio
Montoya-Restrepo, Iván A.
Zuluaga Álvarez, Alejandra María
author_role author
author2 García-Valdecasas, J. Ignacio
Montoya-Restrepo, Iván A.
Zuluaga Álvarez, Alejandra María
author2_role author
author
author
dc.subject.none.fl_str_mv Ambidexterity, decision making, exploitation, exploration, strategy
topic Ambidexterity, decision making, exploitation, exploration, strategy
description Decision problems and their relationship with the moments in time is a theme to be explored in the strategy studies field. In fact, several scholars conceptualize strategy from a decision-making perspective, framing it as a sequence of interconnected decisions that involve the allocation of resources necessary for implementation. One way to understand the timing of strategic decisions is through the lens of deliberate versus emergent strategies. Within this framework, organizational ambidexterity—defined as the dynamic balance between exploration and exploitation processes—has been proposed as a key cognitive dimension influencing managerial decision-making. These processes, grounded in organizational learning theory, are subject to constraints such as temporal myopia, which can hinder the ability to appropriately weigh short-term outcomes against long-term implications. In this context, the present study aims to identify the limitations inherent in exploration and exploitation processes that may influence strategy formulation, as discussed in the existing literature. This objective was pursued through a systematic literature review using the Scopus database. The review focused on scholarly contributions addressing decision-making in relation to exploration and exploitation, and the results were categorized into substantial, applied, and complementary contributions. As a result, this study reveals a set of thematic categories —including resources, term, type of activity, background, structure, knowledge, and strategy— that differentiate exploration from exploitation processes. These categories also help illuminate the limitations of each process and their potential influence on the timing and nature of strategic decisions.
publishDate 2025
dc.date.none.fl_str_mv 2025
dc.type.none.fl_str_mv info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
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dc.identifier.none.fl_str_mv https://doi.org/10.15446/innovar.v35n96.107110
https://uvadoc.uva.es/handle/10324/80532
url https://doi.org/10.15446/innovar.v35n96.107110
https://uvadoc.uva.es/handle/10324/80532
dc.language.none.fl_str_mv Inglés
language_invalid_str_mv Inglés
dc.rights.none.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
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dc.source.none.fl_str_mv reponame:UVaDOC. Repositorio Documental de la Universidad de Valladolid
instname:Universidad de Valladolid
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reponame_str UVaDOC. Repositorio Documental de la Universidad de Valladolid
collection UVaDOC. Repositorio Documental de la Universidad de Valladolid
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