A Longitudinal Perspective on Organizational Ambidexterity

Organizational ambidexterity has recently been named a "hot topic" in strategy research (Birkinshaw and Gupta, 2014: 2). It is defined as a firm's ability to simultaneously pursue exploration and exploitation (Gupta, Smith, and Shalley, 2006), and has emerged as a "new research paradigm in organization theory" (Raisch, Birkinshaw, Probst, and Tushman, 2009: 685). Over the last two decades, scholars have studied ambidexterity from many different theoretical perspectives, mostly adopting cross-sectional research designs (Raisch and Birkinshaw, 2008). Contributing to this cross-sectional work, this dissertation takes a longitudinal perspective on ambidexterity, focusing on the role of time in the exploration exploitation dilemma. Time has an important function in understanding organizational ambidexterity: The outcomes of exploration and exploitation differ with regard to time (March, 1991), and time can be a solution to balance both conflicting tasks (Boumgarden, Nickerson, and Zenger, 2012). In summary, "the adoption of time as an important research lens (…) allows for a deeper exploration of the dynamic processes underlying the emergence of organizational ambidexterity" (Raisch et al., 2009: 689). This dissertation consists of five papers, each of which stresses time's role in organizational ambidexterity from a different perspective. For example, Paper 1 investigates how firms' exploration-exploitation balance changes over time, whereas Paper 4 draws a comparison between the simultaneous and sequential pursuit of exploration and exploitation. The papers adopt different levels (firm, project, and individual-level) of analysis and apply distinct methodologies (qualitative and quantitative). This dissertation contributes to theory and practice. First, by introducing the novel concept of dynamic ambidexterity, it provides a longitudinal perspective on how firms adjust their simultaneous exploration-exploitation balance over time. Second, it provides insights into how and why firms often end up with unbalanced allocations, that is, over-exploration or exploitation. Finally, this dissertation introduces several mechanisms that allow firms to achieve exploration-exploitation balance over time. These mechanisms comprise the analysis of firm resources (Paper 4), the composition of firms' organizational models (Paper 5), or the use of acquisitions as a firm-external mechanism to pursue exploration and exploitation (Paper 3).

[1]  Diana L. Day,et al.  The Product Portfolio and Profitability—A PIMS-Based Analysis of Industrial-Product Businesses , 1982 .

[2]  Gary J. Castrogiovanni,et al.  Organization Task Environments: Have they Changed Fundamentally over Time? , 2002 .

[3]  R E Miles,et al.  Organizational strategy, structure, and process. , 1978, Academy of management review. Academy of Management.

[4]  Albert A. Cannella,et al.  Strategic Leadership: Theory and Research on Executives, Top Management Teams, and Boards , 2008 .

[5]  J. March,et al.  Variable risk preferences and the focus of attention , 1992 .

[6]  M. Arellano,et al.  Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations , 1991 .

[7]  James D. Thompson Organizations in Action , 1967 .

[8]  R. Biggadike The Risky Business of Diversification , 1979 .

[9]  Irem Demirkan,et al.  The Performance Consequences of Ambidexterity in Strategic Alliance Formations: Empirical Investigation and Computational Theorizing , 2007, Manag. Sci..

[10]  P. Bryant,et al.  Self-regulation and moral awareness among entrepreneurs , 2009 .

[11]  J. Stein,et al.  Internal Capital Markets and the Competition for Corporate Resources , 1995 .

[12]  T. Breurch,et al.  A simple test for heteroscedasticity and random coefficient variation (econometrica vol 47 , 1979 .

[13]  Loretta J. Mester,et al.  The Wharton Financial Institutions Center Explaining the Dramatic Changes in Performance of U.s. Banks: Technological Change, Deregulation, and Dynamic Changes in Competition Technological Change, Deregulation, and Dynamic Changes in Competition , 2022 .

[14]  H. Barkema,et al.  FOREIGN ENTRY, CULTURAL BARRIERS, AND LEARNING , 1996 .

[15]  D. Garvin,et al.  The Multiunit Enterprise , 2008 .

[16]  Henk W. Volberda,et al.  Exploratory Innovation, Exploitative Innovation and Peformance: Effects of Organizational Antecedents and Environmental Moderators , 2006, Manag. Sci..

[17]  Wendy K. Smith,et al.  Organizational designs and innovation streams , 2010 .

[18]  Joel A. C. Baum,et al.  Making the Next Move: How Experiential and Vicarious Learning Shape the Locations of Chains' Acquisitions , 2000 .

[19]  L. Hansen Large Sample Properties of Generalized Method of Moments Estimators , 1982 .

[20]  H. Barkema,et al.  Pace, rhythm and scope: Process dependence in building a profitable multinational corporation , 2002 .

[21]  M. Feldman,et al.  Organizational Routines as Sources of Connections and Understandings , 2002 .

[22]  Michael L. Tushman,et al.  Organizational Ambidexterity in Action: How Managers Explore and Exploit , 2011 .

[23]  Justin J. P. Jansen,et al.  Senior Team Attributes and Organizational Ambidexterity: The Moderating Role of Transformational Leadership , 2008 .

[24]  Roger Calantone,et al.  The Role of Knowledge in Resource Allocation to Exploration versus Exploitation in Technologically Oriented Organizations , 2003, Decis. Sci..

[25]  R. Katila,et al.  Something Old, Something New: A Longitudinal Study of Search Behavior and New Product Introduction , 2002 .

[26]  Alan D. Meyer,et al.  ENVIRONMENTAL JOLTS AND INDUSTRY REVOLUTIONS: ORGANIZATIONAL RESPONSES TO DISCONTINUOUS CHANGE , 1990 .

[27]  J. B. Kusewitt An exploratory study of strategic acquisition factors relating to performance , 1985 .

[28]  Julian Birkinshaw,et al.  Ambidexterity and Survival in Corporate Venture Units , 2014 .

[29]  J. L. Bower,et al.  Not all M&As are alike--and that matters. , 2001, Harvard business review.

[30]  Shaker A. Zahra,et al.  The effect of governance modes and relatedness of external business development activities on innovative performance , 2008 .

[31]  P. Bromiley Testing a Causal Model of Corporate Risk Taking and Performance , 1991 .

[32]  H. Greve Performance, Aspirations, and Risky Organizational Change , 1998 .

[33]  Yan Ling,et al.  Transformational Leadership's Role in Promoting Corporate Entrepreneurship: Examining the CEO-TMT Interface , 2008 .

[34]  Barbara W. Keats,et al.  A Causal Model of Linkages Among Environmental Dimensions, Macro Organizational Characteristics, and Performance , 1988 .

[35]  Robert Jacobsen,et al.  The persistence of abnormal returns , 1988 .

[36]  M. Bond,et al.  Hofstede's Culture Dimensions , 1984 .

[37]  H. Barkema,et al.  International Expansion Through Start-Up or Acquisition: A Learning Perspective , 1998 .

[38]  Daniel A. Levinthal,et al.  The myopia of learning , 1993 .

[39]  M. Lubatkin,et al.  Ambidexterity and Performance in Small-to Medium-Sized Firms: The Pivotal Role of Top Management Team Behavioral Integration , 2006 .

[40]  Mathew L. A. Hayward When do firms learn from their acquisition experience? Evidence from 1990 to 1995 , 2002 .

[41]  C. Gersick,et al.  Habitual routines in task-performing groups. , 1990, Organizational behavior and human decision processes.

[42]  John E. Prescott,et al.  Sequence Patterns of Firms' Acquisition and Alliance Behaviour and Their Performance Implications , 2011 .

[43]  Daniel A. Kaufmann,et al.  Governance Matters VI: Governance Indicators for 1996-2006 , 2007 .

[44]  Todd R. Zenger,et al.  Sailing into the wind: Exploring the relationships among ambidexterity, vacillation, and organizational performance , 2012 .

[45]  L. Capron The long‐term performance of horizontal acquisitions , 1999 .

[46]  Jaideep Anand,et al.  Using acquisitions to access multinational diversity: thinking beyond the domestic versus cross-border M&A comparison , 2005 .

[47]  Mathew L. A. Hayward Professional influence: The effects of investment banks on clients acquisition financing and performance , 2003 .

[48]  Daniel A. Levinthal,et al.  A model of adaptive organizational search , 1981 .

[49]  Ronald C. Anderson,et al.  Founding-Family Ownership and Firm Performance: Evidence from the S&P 500 , 2003 .

[50]  Ronald N. Taylor Age and Experience as Determinants of Managerial Information Processing and Decision Making Performance , 1975 .

[51]  David R. King,et al.  Reducing Causal Ambiguity in Acquisition Integration: Intermediate Goals as Mediators of Integration Decisions and Acquisition Performance , 2008 .

[52]  Phanish Puranam,et al.  Integrating Acquired Capabilities: When Structural Integration is (Un)Necessary , 2005 .

[53]  C. C. Snow,et al.  Organizational Configurations and Performance: A Comparison of Theoretical Approaches , 1993 .

[54]  Bart Nooteboom,et al.  Exploration and exploitation in innovation systems: The case of pharmaceutical biotechnology , 2006 .

[55]  Stefan N. Groesser,et al.  Contributions to Model Validation: Hierarchy, Process, and Cessation , 2012 .

[56]  Sidney G. Winter,et al.  Satisficing, Selection, and the Innovating Remnant , 1971 .

[57]  Jeffrey A. Clark Economies of scale and scope at depository financial institutions: a review of the literature , 1988 .

[58]  R. Katila,et al.  Technological acquisitions and the innovation performance of acquiring firms: a longitudinal study , 2001 .

[59]  C. Halaby,et al.  Panel Models in Sociological Research: Theory into Practice , 2004 .

[60]  E. Higgins Promotion and Prevention: Regulatory Focus as A Motivational Principle , 1998 .

[61]  R. Willig,et al.  Economies of scope , 1981 .

[62]  S. Finkelstein,et al.  The Influence of Organizational Acquisition Experience on Acquisition Performance: A Behavioral Learning Perspective , 1999 .

[63]  M. Hannan,et al.  The Population Ecology of Organizations , 1977, American Journal of Sociology.

[64]  E. Bailey,et al.  Market Structure and Multiproduct Industries , 1982 .

[65]  Sabine Reddy,et al.  The choice between mergers/acquisitions and joint ventures : The case of Japanese investors in the United States , 1997 .

[66]  James G. March,et al.  Variable risk preferences and adaptive aspirations , 1988 .

[67]  P. Almeida,et al.  When Do Acquisitions Facilitate Technological Exploration and Exploitation? , 2012 .

[68]  S. Zahra Technology strategy and financial performance: Examining the moderating role of the firm's competitive environment , 1996 .

[69]  Carolyn Y. Woo,et al.  Technology sourcing and output of established firms in a regime of encompassing technological change , 2003 .

[70]  Sayan Chatterjee,et al.  The Keys to Successful Acquisition Programmes , 2009 .

[71]  Harbir Singh,et al.  Organizing for Innovation: Managing the Coordination-Autonomy Dilemma in Technology Acquisitions , 2006 .

[72]  Jack A. Nickerson,et al.  Being Efficiently Fickle: A Dynamic Theory of Organizational Choice , 2002, Organ. Sci..

[73]  Marvin B. Lieberman,et al.  Acquisition vs. Internal Development as Modes of Market Entry , 2009 .

[74]  René M. Stulz,et al.  Are Internal capital Markets Efficient , 1998 .

[75]  Robert E. Hoskisson,et al.  Effects Of Acquisitions on R&D Inputs and Outputs , 1991 .

[76]  Zeki Simsek Organizational Ambidexterity: Towards a Multilevel Understanding , 2009 .

[77]  V. Ambrosini,et al.  Should Acquiring Firms Pursue More than One Value Creation Strategy? An Empirical Test of Acquisition Performance , 2011 .

[78]  W. Kim,et al.  How strategy shapes structure , 2010 .

[79]  J. Hulland,et al.  Redeployment of Brands, Sales Forces, and General Marketing Management Expertise following Horizontal Acquisitions: A Resource-Based View , 1999 .

[80]  Zeki Simsek,et al.  A Typology for Aligning Organizational Ambidexterity's Conceptualizations, Antecedents, and Outcomes , 2009 .

[81]  Karel Cool,et al.  Asset stock accumulation and sustainability of competitive advantage , 1989 .

[82]  N. Venkatraman,et al.  Environment--strategy coalignment: an empirical test of its performance implications , 2011 .

[83]  Erik R. Larsen,et al.  Getting There: Exploring the Role of Expectations and Preproduction Delays in Processes of Organizational Founding , 2010, Organ. Sci..

[84]  M. Sastry Problems and Paradoxes in a Model of Punctuated Organizational Change , 1997 .

[85]  H. Volberda,et al.  Exploring Exploration Orientation and its Determinants: Some Empirical Evidence , 2004 .

[86]  J. Forrester Principles of systems : text and workbook, chapters 1 through 10 , 1968 .

[87]  G. McNamara,et al.  The Performance Implications of Participating in an Acquisition Wave: Early Mover Advantages, Bandwagon Effects, and The Moderating Influence of Industry Characteristics and Acquirer Tactics , 2008 .

[88]  B. Looy,et al.  Toward An Integrative Perspective on Alliance Governance: Connecting Contract Design, Trust Dynamics, and Contract Application , 2008 .

[89]  A. V. D. Ven SUGGESTIONS FOR STUDYING STRATEGY PROCESS: A RESEARCH NOTE , 1992 .

[90]  Gregory G. Dess,et al.  Dimensions of Organizational Task Environments. , 1984 .

[91]  Sebastian Raisch Balanced Structures: Designing Organizations for Profitable Growth , 2008 .

[92]  Wendy K. Smith,et al.  The ambidextrous CEO. , 2011, Harvard business review.

[93]  Julian Birkinshaw,et al.  Organizational Ambidexterity: Balancing Exploitation and Exploration for Sustained Performance , 2009, Organ. Sci..

[94]  Albert A. Cannella,et al.  Top Management Team Functional Background Diversity and Firm Performance: Examining The Roles of Team Member Colocation and Environmental Uncertainty , 2008 .

[95]  Ali R. Malekzadeh,et al.  Acculturation in Mergers and Acquisitions , 1988 .

[96]  M. Zollo,et al.  The neuro-scientific foundations of the exploration-exploitation dilemma , 2010 .

[97]  Donald D. Bergh,et al.  Predicting divestiture of unrelated acquisitions: an integrative model of ex ante conditions , 1997 .

[98]  Linda Argote,et al.  Organizational Learning: From Experience to Knowledge , 2011, Organ. Sci..

[99]  David Lei,et al.  Management practices in learning organizations , 1992 .

[100]  Margarethe F. Wiersema,et al.  Matching method to paradigm in strategy research: limitations of cross‐sectional analysis and some methodological alternatives , 1999 .

[101]  A. Tiwana Do bridging ties complement strong ties? An empirical examination of alliance ambidexterity , 2008 .

[102]  Jiatao Li,et al.  Untangling the Effects of Overexploration and Overexploitation on Organizational Performance: The Moderating Role of Environmental Dynamism† , 2008 .

[103]  Jesper B. Sørensen,et al.  Aging, Obsolescence, and Organizational Innovation , 2000 .

[104]  Melissa E. Graebner Momentum and serendipity: how acquired leaders create value in the integration of technology firms , 2004 .

[105]  J. Hausman Specification tests in econometrics , 1978 .

[106]  Wendy K. Smith,et al.  TOWARD A THEORY OF PARADOX : A DYNAMIC EQUILIBRIUM MODEL OF ORGANIZING , 2011 .

[107]  Constance E. Helfat,et al.  Organizational Linkages for Surviving Technological Change: Complementary Assets, Middle Management, and Ambidexterity , 2008, Organ. Sci..

[108]  John D. Sterman,et al.  Business dynamics : systems thinking and modelling for acomplex world , 2002 .

[109]  Mason A. Carpenter,et al.  Top management team compensation: The missing link between CEO pay and firm performance? , 2002 .

[110]  Markku V. J. Maula,et al.  Exploration, exploitation, and financial performance: analysis of S&P 500 corporations , 2009 .

[111]  D. Slevin,et al.  Strategic management of small firms in hostile and benign environments , 1989 .

[112]  K. Eisenhardt,et al.  The Art of Continuous Change : Linking Complexity Theory and Time-Paced Evolution in Relentlessly Shifting Organizations , 1997 .

[113]  M. Feldman,et al.  Reconceptualizing Organizational Routines as a Source of Flexibility and Change , 2003 .

[114]  Mark S. Granovetter Economic Action and Social Structure: The Problem of Embeddedness , 1985, American Journal of Sociology.

[115]  C. Fee,et al.  Sources of Gains in Horizontal Mergers: Evidence from Customer, Supplier, and Rival Firms , 2003 .

[116]  D. Flanagan Announcements of Purely Related and Purely Unrelated Mergers and Shareholder Returns: Reconciling the Relatedness Paradox , 1996 .

[117]  John E. Prescott,et al.  A Temporal Perspective of Merger and Acquisition and Strategic Alliance Initiatives , 2012 .

[118]  J. Birkinshaw,et al.  Organizational Ambidexterity: Antecedents, Outcomes, and Moderators , 2008 .

[119]  Michael Tushman,et al.  Organizational Ambidexterity: IBM and Emerging Business Opportunities , 2009 .

[120]  M. Tushman,et al.  Organizational Evolution: A Metamorphosis Model of Convergence and Reorientation , 1985 .

[121]  W. Mitchell,et al.  Asset Divestiture Following Horizontal Acquisitions: A Dynamic View , 2001 .

[122]  Vijay Mahajan,et al.  A Balance Model for Evaluating Firms for Acquisition , 1991 .

[123]  Ken G. Smith,et al.  The interplay between exploration and exploitation. , 2006 .

[124]  C. Prahalad,et al.  The dominant logic: A new linkage between diversity and performance , 1986 .

[125]  D. Leonard-Barton CORE CAPABILITIES AND CORE RIGIDITIES: A PARADOX IN MANAGING NEW PRODUCT DEVELOPMENT , 1992 .

[126]  C. Gersick REVOLUTIONARY CHANGE THEORIES: A MULTILEVEL EXPLORATION OF THE PUNCTUATED EQUILIBRIUM PARADIGM , 1991 .

[127]  Qing Cao,et al.  Unpacking Organizational Ambidexterity: Dimensions, Contingencies, and Synergistic Effects , 2009, Organ. Sci..

[128]  M. Diane Burton,et al.  Founding the Future: Path Dependence in the Evolution of Top Management Teams from Founding to IPO , 2008, Organ. Sci..

[129]  Sydney Finkelstein,et al.  Understanding Acquisition Performance: The Role of Transfer Effects , 2002, Organ. Sci..

[130]  Harry G. Barkema,et al.  How Do Firms Learn to Make Acquisitions? A Review of Past Research and an Agenda for the Future , 2008 .

[131]  Terry L. Amburgey,et al.  Strategic momentum: The effects of repetitive, positional, and contextual momentum on merger activity , 1992 .

[132]  Haibin Yang,et al.  Ambidexterity in product innovation management: The direct and contingent effects on product development performance , 2007 .

[133]  John Goddard,et al.  Determinants of profitability in European manufacturing and services: evidence from a dynamic panel model , 2005 .

[134]  Curba Morris Lampert,et al.  Entrepreneurship in the large corporation: a longitudinal study of how established firms create breakthrough inventions , 2001 .

[135]  Neil A. Morgan,et al.  The Value of Different Customer Satisfaction and Loyalty Metrics in Predicting Business Performance , 2006 .

[136]  H. Barkema,et al.  Toward Unlocking The Full Potential of Acquisitions: The Role of Organizational Restructuring , 2008 .

[137]  Deborah G. . Ancona,et al.  Time: A New Research Lens , 2001 .

[138]  W. Mitchell Dual clocks: Entry order influences on incumbent and newcomer market share and survival when specialized assets retain their value , 1991 .

[139]  John D. W. Morecroft,et al.  Strategic Modelling and Business Dynamics: A Feedback Systems Approach , 2007 .

[140]  Georg Schreyögg,et al.  Organizational Path Dependence: Opening the Black Box , 2009 .

[141]  Ritu Agarwal,et al.  The Role of Innovation Characteristics and Perceived Voluntariness in the Acceptance of Information Technologies , 1997 .

[142]  R. Blundell,et al.  Initial Conditions and Moment Restrictions in Dynamic Panel Data Models , 1998 .

[143]  A. Fiegenbaum Dynamic aspects of strategic groups and competitive strategy : concepts and empirical examination in the insurance industry , 1987 .

[144]  W. P. Barnett,et al.  The Dynamics of Competitive Intensity , 1997 .

[145]  G. Bascle Controlling for endogeneity with instrumental variables in strategic management research , 2008 .

[146]  Moshe Farjoun Beyond Dualism: Stability and Change As a Duality , 2010 .

[147]  J. L. Bower,et al.  How Managers' everyday decisions create or destroy your company's strategy. , 2007, Harvard business review.

[148]  Harbir Singh,et al.  The Effect of National Culture on the Choice of Entry Mode , 1988 .

[149]  Constance E. Helfat,et al.  Inter‐temporal economies of scope, organizational modularity, and the dynamics of diversification , 2004 .

[150]  Friedrich Trautwein,et al.  Merger Motives and Merger Prescriptions , 1990 .

[151]  P. Adler,et al.  Flexibility Versus Efficiency? a Case Study of Model Changeovers in the Toyota Production System , 1999 .

[152]  David L. Deeds,et al.  Exploration and Exploitation Alliances in Biotechnology: A System of New Product Development , 2004 .

[153]  Danny Miller,et al.  Environmental Fit Versus Internal Fit , 1992 .

[154]  Frank T. Rothaermel,et al.  Leveraging internal and external experience: exploration, exploitation, and R&D project performance , 2010 .

[155]  Kent D. Miller,et al.  Strategic Risk and Corporate Performance: an Analysis of Alternative Risk Measures , 1990 .

[156]  A. Jacquemin,et al.  Entropy Measure of Diversification and Corporate Growth , 1979 .

[157]  A. V. D. Ven,et al.  Using Paradox to Build Management and Organization Theories , 1989 .

[158]  P. Puranam,et al.  What They Know vs. What They Do: How Acquirers Leverage Technology Acquisitions , 2007 .

[159]  A. Tversky,et al.  Prospect theory: an analysis of decision under risk — Source link , 2007 .

[160]  Lori Rosenkopf,et al.  Balancing Exploration and Exploitation in Alliance Formation , 2006 .

[161]  Tomi Laamanen,et al.  Performance of serial acquirers: toward an acquisition program perspective , 2008 .

[162]  Gareth R. Jones,et al.  Transaction cost analysis of strategy‐structure choice , 1988 .

[163]  Carolyn Y. Woo,et al.  Multimarket Contact, Economies of Scope, and Firm Performance , 1999 .

[164]  H. Thomas,et al.  Strategic Groups as Reference Groups: Theory, Modeling and Empirical Examination of Industry and Competitive Strategy , 1995 .

[165]  M. Hannan,et al.  Structural Inertia and Organizational Change , 1984 .

[166]  Zi-Lin He,et al.  Exploration vs. Exploitation: An Empirical Test of the Ambidexterity Hypothesis , 2004, Organ. Sci..

[167]  Mary J. Benner,et al.  Exploitation, Exploration, and Process Management: The Productivity Dilemma Revisited , 2003 .

[168]  Hazhir Rahmandad,et al.  Reporting guidelines for simulation‐based research in social sciences , 2012 .

[169]  Henk W. Volberda,et al.  Structural Differentiation and Ambidexterity: The Mediating Role of Integration Mechanisms , 2008, Organ. Sci..

[170]  John D. Sterman,et al.  Testing Behavioral Simulation Models by Direct Experiment , 1987 .

[171]  W. P. Barnett,et al.  Resetting the Clock: The Dynamics of Organizational Change and Failure. , 1990 .

[172]  M. Tushman,et al.  The ambidextrous organization. , 2004, Harvard business review.

[173]  S. Winter,et al.  An Evolutionary Theory of Economic Change.by Richard R. Nelson; Sidney G. Winter , 1987 .

[174]  Jenny W. Rudolph,et al.  The Dynamics of Action-Oriented Problem Solving: Linking Interpretation and Choice , 2009 .

[175]  S. Mezias,et al.  MANAGING DISCONTINUOUS CHANGE: A SIMULATION STUDY OF ORGANIZATIONAL LEARNING AND ENTREPRENEURSHIP , 1990 .

[176]  Jisun Yu,et al.  The Integration Journey: An Attention-Based View of the Merger and Acquisition Integration Process , 2005 .

[177]  Ian P. McCarthy,et al.  Achieving Contextual Ambidexterity in R&D Organizations: A Management Control System Approach , 2011, SSRN Electronic Journal.

[178]  H. Weiss,et al.  Routinized behavior in organizations , 1985 .

[179]  Thomas Keil,et al.  Building External Corporate Venturing Capability , 2004 .

[180]  C. K. Prahalad,et al.  THE DOMINANT LOGIC: RETROSPECTIVE AND EXTENSION , 1995 .

[181]  Sebastian Raisch,et al.  Organizational Crisis : The Logic of Failure , 2005 .

[182]  Kathleen M. Eisenhardt,et al.  Developing Theory Through Simulation Methods , 2006 .

[183]  Christine M. Beckman The Influence of Founding Team Company Affiliations on Firm Behavior , 2006 .

[184]  W. Mitchell,et al.  Path-dependent and path-breaking change: reconfiguring business resources following acquisitions in the U.S. medical sector, 1978–1995 , 2000 .

[185]  M. Tushman,et al.  Ambidexterity as a Dynamic Capability: Resolving the Innovator's Dilemma , 2007 .

[186]  Kwanghui Lim,et al.  The impact of acquisitions on the productivity of inventors At semiconductor firms: a synthesis of knowledge-based and Incentive-based perspectives , 2007 .

[187]  Rex Thompson,et al.  Evidence on the capitalized value of merger activity for acquiring firms , 1983 .

[188]  David R. King,et al.  Meta-analyses of Post-acquisition Performance: Indications of Unidentified Moderators , 2004 .

[189]  V. Barnett,et al.  Applied Linear Statistical Models , 1975 .

[190]  A. Pettigrew The Character and Significance of Strategy Process Research , 1992 .

[191]  Annette L. Ranft,et al.  Acquiring New Technologies and Capabilities: A Grounded Model of Acquisition Implementation , 2002, Organ. Sci..

[192]  Boyan Jovanovic,et al.  The Life Cycle of a Competitive Industry , 1993, Journal of Political Economy.

[193]  Bob Walrave,et al.  Getting Trapped in the Suppression of Exploration: A Simulation Model , 2011 .

[194]  Daniel A. Levinthal,et al.  Temporarily Divide to Conquer: Centralized, Decentralized, and Reintegrated Organizational Approaches to Exploration and Adaptation , 2003 .

[195]  Dovev Lavie,et al.  Ambidexterity Under Scrutiny: Exploration and Exploitation Via Internal Organization, Alliances, and Acquisitions , 2014 .

[196]  H. Barkema,et al.  Learning Through Acquisitions , 2001 .

[197]  M. Zollo,et al.  What Is M&A Performance? , 2008 .

[198]  J. March Exploration and exploitation in organizational learning , 1991, STUDI ORGANIZZATIVI.

[199]  Daniel A. Levinthal,et al.  ABSORPTIVE CAPACITY: A NEW PERSPECTIVE ON LEARNING AND INNOVATION , 1990 .

[200]  M. Tushman,et al.  Ambidextrous Organizations: Managing Evolutionary and Revolutionary Change , 1996 .

[201]  I. Martinez-Moyano Documentation for model transparency , 2012 .

[202]  C. Gibson,et al.  THE ANTECEDENTS , CONSEQUENCES , AND MEDIATING ROLE OF ORGANIZATIONAL AMBIDEXTERITY , 2004 .

[203]  L. Donaldson STRATEGY AND STRUCTURAL ADJUSTMENT TO REGAIN FIT AND PERFORMANCE: IN DEFENCE OF CONTINGENCY THEORY , 1987 .

[204]  K. Eisenhardt,et al.  PRODUCT DEVELOPMENT: PAST RESEARCH, PRESENT FINDINGS, AND FUTURE DIRECTIONS , 1995 .

[205]  R. Prager The Effects of Horizontal Mergers on Competition: The Case of the Northern Securities Company , 1992 .

[206]  K. Eisenhardt,et al.  The Evolution of Intracorporate Domains: Divisional Charter Losses in High-Technology, Multidivisional Corporations , 1996 .

[207]  Kalin D. Kolev,et al.  Exploring firm characteristics that differentiate leaders from followers in industry merger waves: a competitive dynamics perspective , 2012 .

[208]  Bernard J. Jaworski,et al.  Market orientation: The construct, research propositions, and managerial implications. , 1990 .

[209]  Constance E. Helfat,et al.  Corporate effects and dynamic managerial capabilities , 2003 .

[210]  Mason A. Carpenter,et al.  The Effects of Top Management Team Pay and Firm Internationalization on MNC Performance , 2004 .

[211]  Harbir Singh,et al.  Deliberate learning in corporate acquisitions: post‐acquisition strategies and integration capability in U.S. bank mergers , 2004 .

[212]  Rudi K. F. Bresser,et al.  Performance implications of delayed competitive responses: evidence from the U.S. retail industry , 2008 .

[213]  H. Thomas,et al.  INDUSTRY AND STRATEGIC GROUP DYNAMICS: COMPETITIVE STRATEGY IN THE INSURANCE INDUSTRY, 1970–84 , 1993 .

[214]  Dovev Lavie,et al.  Balance Within and Across Domains: The Performance Implications of Exploration and Exploitation in Alliances , 2011, Organ. Sci..

[215]  N. Rajagopalan,et al.  The Influence of Acquisition Experience and Performance on Acquisition Behavior: Evidence From the U.S. Commercial Banking Industry , 2006 .

[216]  Markus Schimmer,et al.  Firm performance and aspiration levels as determinants of a firm’s strategic repositioning within strategic group structures , 2012 .

[217]  Peter J. Lane,et al.  Strategizing Throughout the Organization: Managing Role Conflict in Strategic Renewal , 2000 .

[218]  J. Birkinshaw,et al.  Clarifying the Distinctive Contribution of Ambidexterity to the Field of Organization Studies , 2013 .

[219]  G. Dowling,et al.  Corporate reputation and sustained superior financial performance , 2002 .

[220]  L. Buchanan,et al.  A brief history of decision making. , 2006, Harvard business review.

[221]  Marco Iansiti,et al.  Special Issue: Organizational Design: Organization Design and Effectiveness over the Innovation Life Cycle , 2006, Organ. Sci..

[222]  Jan W. Rivkin,et al.  Balancing Search and Stability: Interdependencies Among Elements of Organizational Design , 2003, Manag. Sci..

[223]  Wendy K. Smith,et al.  Managing Strategic Contradictions: A Top Management Model for Managing Innovation Streams , 2005 .

[224]  Markus Schwaninger,et al.  System Dynamics as Model-Based Theory Building , 2008 .

[225]  Franklin S. Houston The Marketing Concept: What it is and What it is Not , 1986 .

[226]  Tom R. Burns,et al.  The Management of Innovation. , 1963 .

[227]  R. Amit,et al.  A Concept of Conglomerate Diversification , 1988 .

[228]  Mary J. Benner,et al.  Process Management and Technological Innovation: A Longitudinal Study of the Photography and Paint Industries , 2002 .

[229]  P. Lawrence,et al.  Organization and Environment: Managing Differentiation and Integration , 1967 .

[230]  Henk W. Volberda,et al.  Towards The Flexible Form: How To Remain Vital in Hypercompetitive Environments , 1996 .

[231]  J. Walsh Managerial and Organizational Cognition: Notes from a Trip Down Memory Lane , 1995 .

[232]  Willow A. Sheremata Centrifugal and Centripetal Forces in Radical New Product Development Under Time Pressure , 2000 .

[233]  Wendy K. Smith,et al.  Paradoxical Leadership to Enable Strategic Agility , 2014 .

[234]  Mason A. Carpenter,et al.  Taking Stock of What We Know About Mergers and Acquisitions: A Review and Research Agenda , 2008 .

[235]  Carl W. Roberts,et al.  Text analysis for the social sciences : methods for drawing statistical inferences from texts and transcripts , 1997 .

[236]  P. Klarner,et al.  Move to the beat—Rhythms of change and firm performance. , 2013 .

[237]  K. Andrews The Concept of Corporate Strategy , 1971 .

[238]  Justin J. P. Jansen,et al.  Exploratory Innovation, Exploitative Innovation, and Ambidexterity: The Impact of Environmental and Organizational Antecedents , 2005 .

[239]  Henk W. Volberda,et al.  Understanding Variation in Managers' Ambidexterity: Investigating Direct and Interaction Effects of Formal Structural and Personal Coordination Mechanisms , 2009, Organ. Sci..

[240]  Robert C. Ford,et al.  Cross-Functional Structures: A Review and Integration of Matrix Organization and Project Management , 1992 .

[241]  John D. W. Morecroft,et al.  Rationality in the Analysis of Behavioral Simulation Models , 1985 .

[242]  John D. Sterman,et al.  System Dynamics: Systems Thinking and Modeling for a Complex World , 2002 .

[243]  Constantine Andriopoulos,et al.  Exploitation-Exploration Tensions and Organizational Ambidexterity: Managing Paradoxes of Innovation , 2009, Organ. Sci..

[244]  Justin J. P. Jansen,et al.  Ambidexterity and performance in multiunit contexts: Cross‐level moderating effects of structural and resource attributes , 2012 .

[245]  Kim Warren,et al.  Strategic Management Dynamics , 2008 .

[246]  Nicolaj Siggelkow Evolution toward Fit , 2002 .

[247]  B. Menguc,et al.  Balancing exploration and exploitation: The moderating role of competitive intensity , 2005 .

[248]  D. Hambrick,et al.  Efficiency of Product R&D in Business Units: The Role of Strategic Context , 1985 .

[249]  D. Sull The Dynamics of Standing Still: Firestone Tire & Rubber and the Radial Revolution , 1999, Business History Review.

[250]  D. Segal An Economic Analysis of Life Insurance Company Expenses , 2002 .

[251]  E. Vaara Post - acquisition integration as sensemaking: Glimpses of ambiguity , 2003 .