Dynamic Capabilities- Fostering Ainbidexterity

Abstract

Building ambidexterity has become imperative for organizations ready to face challenges in the unsure business environment, making them adaptable, innovative and proactive to situations, and yet successful. This three dimensional formula looks simple, but it is difficult to carry out. Research has revealed that most successful enterprises are adept at refining their current offerings, but they falter when it comes to pioneering radically new products and services. This calls for organizations to develop both exploitation and exploration skills at the same time. How do great organizations balance the two contrasting managerial demands, how do they go about harnessing capability in a dynamic world? What are the challenges that face established organizations in achieving breakthroughs when they attempt to pursue innovations that lie beyond their current products or markets? The paper attempts to find some answers to the above questions by understanding how dynamic capabilities can be built to foster ambidexterity in organizations.