Table of Contents

Handbook of Research on Strategy and Foresight

Handbook of Research on Strategy and Foresight

Elgar original reference

Edited by Laura Anna Costanzo and Robert Bradley MacKay

Drawing together a collection of 29 original chapters, the Handbook makes an invaluable contribution to theory and practice by stimulating disciplined, rigorous and imaginative enquiry into the relationship between strategy and foresight. Leading scholars in the field of strategic management are brought together to offer innovative and multi-disciplinary perspectives on the past, present and future of strategy formation and foresight. In so doing, they challenge research in four key areas: strategy and foresight processes; strategy innovation for the future; understanding the future; and strategically responding to the future.

Chapter 10: Improvisational Bricolage: A Practice-based Approach to Strategy and Foresight

Miguel Pina e Cunha, João Vieira Da Cunha and Stewart R. Clegg

Subjects: business and management, strategic management


Miguel Pina e Cunha, João Vieira Da Cunha and Stewart R. Clegg Introduction The tension between exploration and exploitation of knowledge is one of the most discussed topics in the strategic and change management literatures (Gersick 1991; Romanelli and Tushman 1994; Eisenhardt and Tabrizi 1995; Tushman and O’Reilly 1996). Too much of either is regarded as a bad thing: too much exploration and the risk is that there is too little that can be exploited routinely, as routines are projected into an uncertain and indeterminate future; too much exploitation and the risk is that as the knowledge assets wear out they will not be replenished in a present that is rapidly fading into a nonrenewable past. In this chapter we contribute to this discussion by explaining how improvisational bricolage allows organizations to integrate these two processes and by discussing an approach to foresight that supports the capability to engage in exploitative exploration. The dilemma inherent to the relation between exploration and exploitation can be succinctly stated as follows. Exploitation is necessary because it allows organizations to reap benefits from present knowledge and past strategy. Exploration is necessary because it allows organizations to construct new knowledge, create new markets, and build new sources of competitiveness. Some strategy literature views these two approaches as opposites, stating that one can only be pursued at the cost of the other (see Sastry 1997), while some argues that both exploration and exploitation are necessary conditions for strategic viability in fast-changing markets (Levinthal 1997)...

You are not authenticated to view the full text of this chapter or article.

Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.

Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.

Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.

Further information