Session7 Flashcards
What is exploration and exploitation at the individual level?
- Exploration involves seeking new knowledge and opportunities
- Exploitation focuses on refining existing knowledge for efficiency.
What are the two main types of attention at the individual level?
- Focused attention: Concentrating on a single task or stimulus.
- Divided attention: Managing multiple tasks or stimuli.
Why is attention control important?
It determines the ability to switch between exploration and exploitation effectively.
How can exploration and exploitation be measured?
Through fine-grained metrics such as patents in new technological domains or citations.
What is open innovation?
- Inbound: Using external knowledge.
- Outbound: Sharing internal projects with external entities.
What are the 5 moves to drive innovation?
- Become a customer/supplier of former projects
- Let others develop nonstrategic initiatives
- Make IP work harder
- Grow the ecosystem
- Create open domains to cut costs and increase participation.
What are the benefits of spin-outs for parent companies?
- Provides exit strategies
- Facilitates informal and formal knowledge transfer
- Assesses market readiness for new technologies.
What is the effect of socialization in organisations?
Increases performance but may hinder exploration. Solutions: Turnover or Open innovation.
What is the hypothesis about spin-outs (H1)?
A spin-out increases the extent of exploration by inventors.
What is knowledge dependence in socialised individuals?
They rely heavily on local knowledge, limiting exposure to external innovations.
What does inventor tenure influence?
Long tenure may lead to over-socialisation and reduced exploration.
What are H3A and H3B hypotheses about spin-outs?
- H3A: Spin-outs boost exploration for highly socialised inventors.
- H3B: Spin-outs reduce reliance on parent company knowledge for highly socialised inventors.
What methods are used to measure exploration?
Extent of exploration: New patents in technological classes, backward citations to parent patents.