Exploration and exploitation constitute two separate, potentially conflicting strategic choices for firms engaged in international strategic alliances. Our results show strategic management concepts and cases rothaermel pdf download while competency similarity is conducive to upstream innovative performance, prior experience with the partner is potentially damaging for this type of performance and trust and cultural distance do not play significant roles. When the motive is efficiency and downstream market performance, prior experience with the partner instead is beneficial, as are high levels of trust and low levels of cultural distance.
These findings have key implications for literature on strategic fit and alliance performance. Strategic fit between partner selection criteria and motivational intend is instrumental in determining alliance performance. Our study challenges the ambidexterity argument, demonstrating that exploration and exploitation are separate strategies. Our results illustrate how relational capital plays a crucial role in determining upstream and downstreamperformance. Empirical analysis of 120 alliances shows that exploration and exploitation are conflicting yet distinct strategies. Check if you have access through your login credentials or your institution.
How does the nature of firms’ alliance portfolio in terms of exploration versus exploitation affect performance? Building on prior research grounded in the resource-based view and the relational perspective, we expand firms’ boundary to include their inter-firm relationships and their immediate environment, and develop an extended resource-based framework centering on the concept of fit. Specifically, we propose that whether the exploration versus exploitation orientation of an alliance portfolio may benefit firm performance depends on how such an orientation fits the firm’s internal organizational characteristics, strategic orientations, and the industry environment. All authors have contributed equally. We thank David Deeds for collaboration on earlier related work, Irem Demirkan for her research assistance, Gregory Dess, Jane Salk, Seung-Hyun Lee, and Sebahattin Demirkan for their constructive comments, and Dung Hua for her editorial help.
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