Abstract:Exploration is both an important part of a firm's innovation strategy and an activity that involves a high degree of uncertainty. This paper investigates a duality in the exploratory component of R&D activity with regard to innovation failure: while exploration is likely to increase firms' exposure to failure, it might also provide learning opportunities to reduce failure. Our study contributes to the innovation management and organisational learning literatures by demonstrating the value of exploratory R&D fo… Show more
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