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Innovating in the Digital Era: What Goliaths Can Learn From Davids
Historically, organizations have viewed exploration and exploitation as two distinct paths to innovation. But in our digital-driven era, this view is outdated. They describe recent research showing that some companies are working together to invent innovations further from the customer and compete on activities closer to the customer. They call the amalgamation of these two approaches coopetition. In this article they show that to succeed in the digital era, both digital and legacy incumbents must practice 'innovation ambidexterity,' refining existing competencies while exploring new avenues. By embedding coopetition into their DNA, companies can leverage both digital technologies and strategic partnerships.