Session7 Flashcards

1
Q

What is exploration and exploitation at the individual level?

A
  • Exploration involves seeking new knowledge and opportunities
  • Exploitation focuses on refining existing knowledge for efficiency.
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2
Q

What are the two main types of attention at the individual level?

A
  • Focused attention: Concentrating on a single task or stimulus.
  • Divided attention: Managing multiple tasks or stimuli.
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3
Q

Why is attention control important?

A

It determines the ability to switch between exploration and exploitation effectively.

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4
Q

How can exploration and exploitation be measured?

A

Through fine-grained metrics such as patents in new technological domains or citations.

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5
Q

What is open innovation?

A
  • Inbound: Using external knowledge.
  • Outbound: Sharing internal projects with external entities.
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6
Q

What are the 5 moves to drive innovation?

A
  1. Become a customer/supplier of former projects
  2. Let others develop nonstrategic initiatives
  3. Make IP work harder
  4. Grow the ecosystem
  5. Create open domains to cut costs and increase participation.
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7
Q

What are the benefits of spin-outs for parent companies?

A
  • Provides exit strategies
  • Facilitates informal and formal knowledge transfer
  • Assesses market readiness for new technologies.
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8
Q

What is the effect of socialization in organisations?

A

Increases performance but may hinder exploration. Solutions: Turnover or Open innovation.

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9
Q

What is the hypothesis about spin-outs (H1)?

A

A spin-out increases the extent of exploration by inventors.

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10
Q

What is knowledge dependence in socialised individuals?

A

They rely heavily on local knowledge, limiting exposure to external innovations.

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11
Q

What does inventor tenure influence?

A

Long tenure may lead to over-socialisation and reduced exploration.

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12
Q

What are H3A and H3B hypotheses about spin-outs?

A
  • H3A: Spin-outs boost exploration for highly socialised inventors.
  • H3B: Spin-outs reduce reliance on parent company knowledge for highly socialised inventors.
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13
Q

What methods are used to measure exploration?

A

Extent of exploration: New patents in technological classes, backward citations to parent patents.

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