RT info:eu-repo/semantics/article
T1 Limitations in Exploration and Exploitation Processes during the Emergence of Strategic Decision-Making: A Literature Review
A1 Hernández-Betancur, Juan-Esteban
A1 García-Valdecasas, J. Ignacio
A1 Montoya-Restrepo, Iván A.
A1 Zuluaga Álvarez, Alejandra María
K1 Ambidexterity, decision making, exploitation, exploration, strategy
AB Decision problems and their relationship with the moments in time is a theme to beexplored in the strategy studies field. In fact, several scholars conceptualize strategy from adecision-making perspective, framing it as a sequence of interconnected decisions that involvethe allocation of resources necessary for implementation. One way to understand the timing ofstrategic decisions is through the lens of deliberate versus emergent strategies. Within thisframework, organizational ambidexterity—defined as the dynamic balance between explorationand exploitation processes—has been proposed as a key cognitive dimension influencingmanagerial decision-making. These processes, grounded in organizational learning theory, aresubject to constraints such as temporal myopia, which can hinder the ability to appropriatelyweigh short-term outcomes against long-term implications. In this context, the present studyaims to identify the limitations inherent in exploration and exploitation processes that mayinfluence strategy formulation, as discussed in the existing literature. This objective waspursued through a systematic literature review using the Scopus database. The review focusedon scholarly contributions addressing decision-making in relation to exploration andexploitation, and the results were categorized into substantial, applied, and complementarycontributions. As a result, this study reveals a set of thematic categories —including resources,term, type of activity, background, structure, knowledge, and strategy— that differentiateexploration from exploitation processes. These categories also help illuminate the limitationsof each process and their potential influence on the timing and nature of strategic decisions.
SN 0121-5051
YR 2025
FD 2025
LK https://uvadoc.uva.es/handle/10324/80532
UL https://uvadoc.uva.es/handle/10324/80532
LA eng
NO Innovar, 2025, vol 35, n. 96.
DS UVaDOC
RD 12-feb-2026