James March's exploration and exploitation in organisational learning

A key text for scholars and business practitioners interested in promoting economic well-being and sustainable growth.

March's work promotes the preservation of companies' competitiveness and sustainability in the fluctuating market environment by maintaining a balance between exploration and exploitation processes.

He explicates that this balance depends on the interchange between the adaptive capability of the company, predictability and consistency, competition, anticipations, level of risk, learning, socialisation dynamics within the organisation, and the overall environmental turbulence.