Summary of Two Reasons Companies Fail and How to Avoid Them
Company leaders must walk the fine line between “exploration” and “exploitation” to stay relevant and profitable.
The hallmark of great companies, according to business strategist Knut Haanaes, is finding the elusive sweet spot between “exploration” and “exploitation,” one that only 2% of firms achieve. Haanaes deftly explains the reasons so many businesses fail to locate this delicate balance and provides tips to help your firm strike a sustainable equilibrium. getAbstract recommends Haanaes’s practical, forthright advice to corporate leaders, strategists and innovators.
In this summary, you will learn
- Why companies fail,
- Why successful enterprises must find the balance between “exploration” and “exploitation,” and
- What four strategies organizations can adopt to innovate and remain successful.
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