Exploration and exploitation in science: Their impact on scientific and technological outcomes

Since March's 1991 seminal article, exploration and exploitation have been extensively studied in the areas of organisational learning, strategic renewal, and technological innovation [Li et al.(2008)]. However, much of the research has focused on exploration as science-based and exploitation as technology-based. This current research effort utilises a unique database to examine the phenomena only in the science arena. The results are that exploration efforts lead to science outcomes, and that both exploration and exploitation efforts have a positive impact on technological outcomes. The managerial implications of these findings are discussed.