The danger of today’s dynamic business environment is that success today does not mean success tomorrow. Many companies are vulnerable to the trap of piggybacking onto the success of current business models for future success. They over-exploit their current business models because it has proven to be successful. Time and resources are spent fine-tuning current models rather than developing new ones, which although is cost-efficient, low risk, and reaps rewards in the short-run, prevents growth and development in the long run.

Businesses need to have a strategy that balances both exploitation and exploration. Nowadays, Porter’s ideals of operational efficiency are not enough for a business to success. Businesses will need to embrace a transient business model to competitively sustain themselves in this fast-paced, changing society.

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Two examples of companies that have embraced this “ambidextrous” model of exploitation and exploration are Amazon and Google. What makes both companies successful is their continual focus on exploration, but at the same time pursues efficiency and excellence in operations and commerce.