• Journal of KIISE:Software and Applications
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• v.32 no.11
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• pp.1099-1110
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• 2005

As auctions become popular, developing good agent bidding strategies has been an important focus in agent-based electronic commerce research. Especially for the continuous double auctions where no single dominant strategy is known, the agent bidding strategy has practical significance. This paper introduces an adaptive agent strategy for the countinuous double auction. The central idea is to let the agent figure out at run time when the sophisticated strategy (called the p-strategy) is beneficial and when a simpler strategy is better. Balance between exploration and exploitation is achieved by using a heuristic exploration function that trades off the expected profits and the number of tries of each strategy. We have experimentally evaluated the performance of the adaptive strategy in a wide variety of environments. The experiment results indicate that the adaptive strategy outperforms the plain p-strategy when the p-strategy performs poorly, while it performs similar to the p-strategy when the p-strategy dominates the other simple strategies.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.2
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• pp.113-120
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• 2022

The goal of this study is to see if there's a relationship between employees' ambidextrous behaviors and macro facilitators of organizational empowerment (such as control over workplace decisions, dynamic structural framework, and fluidity in information sharing) (exploration and exploitation). To acquire data, this study uses survey methods. A cross-sectional survey was done to collect information from academics at five large public sector universities in Pakistan's Balochistan province. Control over workplace decisions boosts academics' engagement in exploration and exploitation, while a dynamic structural framework merely increases their engagement in exploration, according to the findings based on data from 240 respondents (n = 240). The findings also show that information sharing flexibility has little effect on exploration and exploitation behaviors. In conclusion, the results of this study imply that organizational empowerment is critical for academics' ambidextrous behaviors to thrive. As a result, specific organizational facilitators of empowerment (such as control over workplace decisions and a dynamic structural framework) are advised in higher education institutions. This research is significant because it develops and tests a model that explains hitherto unexplored connections between macro facilitators of organizational empowerment and employees' ambidextrous behaviors. In addition, the research provides important insights for managerial practice and research.

• Journal of Korea Trade
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• v.23 no.7
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• pp.156-172
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• 2019

Purpose - Without question, globalization has presented different opportunities to entrepreneurs seeking to expand their companies in foreign markets. The aim of this study is to examine the relationship between entrepreneurial orientation, entrepreneurial activity, information internalization, and product differentiation in export oriented firms. As such, entrepreneurial activities are divided into exploitative and exploratory opportunities. These opportunities are crucial in improving firms' performance. Design/methodology - A structural questionnaire was developed using 21 factors/indicators from previous researches. The subjects of this study were recruited using convenience sampling in export SMEs in the Seoul Metropolitan Area. Data were collected through visits or e-mails from the export managers, executives, and CEOs of export SMEs in advance. 321 questionnaires were collected over a period of one month. 316 questionnaires were used in the final analysis. Findings - First, International Entrepreneurial-orientation (IE) has a positive effect on the exploration and exploitation of business opportunities. Second, the exploration and exploitation of business opportunities have a positive impact on information internalization. Third, information internalization has a significant effect on product differentiation and plays a mediating role in seeking opportunities, utilizing opportunities, and differentiating products. Originality/value - This study contributes to the development of academic discussions by explaining existing research gaps. First, there is currently a lack of research focusing precisely on the product differentiation capability of SMEs in manufacturing field in terms of IE. To bridge these gaps, we examined the entrepreneurial factors impact on product differentiation and tries to expand the discussion about the internationalization of SMEs, which were mainly focused on IT companies, and manufacturing companies. Second, there is no intuitive explanation regarding international entrepreneurial activity in terms of exploration and exploitation within existing. In this study, international entrepreneurship activities were classified in terms of exploration and exploitation.

• Journal of Convergence for Information Technology
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• v.11 no.8
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• pp.73-83
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• 2021

Due to the rapid development of technology compared to the past, it is becoming difficult for companies to survive in a fiercely competitive environment if they do not innovate. In order for a company to carry out innovative activities, it is very important to find new knowledge, digest it, and secure its own technological capabilities. In this study, the causal relationship between exploration and exploitation activities, technology innovation capacity, innovation performance(technical performance, product performance), absorptive capacity, and innovation performance was identified. As a result of the analysis, exploration and exploitation activities were found to affect technology innovation capacity, and technology innovation capacity, absorptive capacity, and innovation strength were found to affect innovation performance. In addition, it was found that absorptive capacity and innovation strength play a mediating role between technology innovation capacity and innovation performance. The results of this study are expected to be useful as guidelines when planning or carrying out innovation activities in companies.

• The Journal of the Korea Contents Association
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• v.22 no.2
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• pp.270-280
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• 2022

There has been a stream of literature studying moderators of the relationship between organizational ambidexterity and firm performance, but there remains a lack of research on moderators with a strategic perspective. We examined the effect of organizational ambidexterity on a firm's long-term performance and the moderating effect of a firm's relative exploration and exploitation based on a sample of 8,916 firms. We found a positive relationship between organizational ambidexterity and long-term performance measured by Tobin's q. The results also suggest that a firm's relative exploration positively moderates the relationship between organizational ambidexterity and long-term performance, whereas exploitation negatively moderates this relationship. We contribute to the current ambidexterity literature by integrating it with strategy literature. We found that the positive relationship between organizational ambidexterity and long-term performance is enlarged and long-lasting when a firm is a differentiator. In contrast, this positive relationship is lessened and short-lasting when a firm is a cost-leader.

• Journal of Digital Convergence
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• v.19 no.11
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• pp.155-165
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• 2021

The objective of this research is to suggest the creativity revelation model and to verify the relationships among knowledge capabilities and creativity processes including exploration and exploitation. Also, we investigate whether there are differences in creativity revelation processes from the perspective of psychological empowerment. To achieve the purpose of the research, a survey was conducted targeting employees of software development companies that require creativity in work performance. Empirical results show that knowledge capabilities have positive effect on creativity revelation processes. The notable point of the results is the role of psychological empowerment such that individuals with high psychological empowerment have more exploration-centric revelation, and those with low psychological empowerment have more exploitation-centric on the other hand. These results are interpreted that the behavioral patterns of organizational members may vary depending on the level of psychological empowerment in the creativity revelation, and therefore could suggest several managerial implications regarding creativity management and organizational development in an environment where convergence becomes more important.

• Korea Trade Review
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• v.42 no.5
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• pp.113-136
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• 2017

New product preannouncement through global supply chain management and international strategic alliances is a critical issue for firm's survive and gaining the competitive advantage in the global smart-phone market. To identify the impact of exploration alliance and exploitation alliance on the short-term's Firm Performance, respectively, This study implemented the event study and the cross sectional regression analysis, focusing on the case of Galaxy Note series. Research results identified that new technologies by exploration alliance and the existing technologies through exploitation alliance have a positive effect on the short-term's performance of vendors related. Furthermore, information for the new products showed higher the excess earning rate than information related to the existing technologies. This implies the firms that provides new technologies have a stronger innovative ability than the companies serving the existing technologies, recognizing as a positive signal in the market. Finally, this study implicates that new technologies by exploration alliance enhances innovative abilities from new product preannouncement, and is a critical variable that can determines whether to survive in the market.

• Asia-Pacific Journal of Business
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• v.11 no.3
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• pp.107-122
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• 2020

Purpose - This paper investigates the relations among exploratory and exploitative supply chain management practices, competitive advantage, and firm performance. Design/methodology/approach - This study takes a hypothesis-generating study to capture the tradeoffs between exploration and exploitation and develops some hypotheses which involve the relations among SCM practices, competitive advantage, and short-term and long-term performance. Findings - Exploitative SCM practices have more positive effects on short-term performance rather than long-term performance, whereas exploratory SCM activities affect long-term performance. Further competitive strategy, environmental dynamism, and organizational slack moderates the relationship between SCM and performance. Exploitative SCM is more desirable when a firm uses low cost strategy, lacks slack resources, and faces stable environment, while exploratory SCM is more effective when a firm employs differentiation strategy, has slack resources, and confront dynamic environment. Research implications or Originality - In order to understand the performance effects of a variety of SCM practices, we should distinguish between exploitative and exploratory SCM activities. Further the relationship between SCM and performance may differ depending upon some contingent variables such as external environment, competitive strategy and organizational slack.

• Korean Management Science Review
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• v.32 no.2
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• pp.111-124
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• 2015

In the management literature, it has been widely accepted among both researchers and practitioners that the level of team creativity is significantly related to the organizational performance. Besides, researchers posited with confidence that team diversity and task difficulty would affect team creativity through team members' activities of exploration and exploitation. However, empirical approaches to proving this belief suffered from lack of real data and proper methods as well. To tackle the research void like this, we propose a multi-agent simulation (MAS) mechanism. By adopting a set of parameters which validity were proven in the related literature, we conducted a series of experiments in the environment of the MAS platform named NetLogo. There sults suggest that managers can differentiate team diversity strategies according to task difficulty. In the case of a difficult task, managers need to increase team diversity so that their teams can maximize team creativity through rigorous exploration and exploitation. It is desirable to maintain an average level of team diversity when performing an easy task.

• Asia pacific journal of information systems
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• v.26 no.2
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• pp.299-321
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• 2016

Previous studies on strategic alliance formation have largely overlooked the effects that organizations' routine development can have on the relationship between organizations' network position and their alliance ambidexterity strategy. This study extends ambidexterity research by adding internal and network perspectives and examining their cumulative effects on alliance ambidexterity. We first acknowledge the interplay between organizations' internal knowledge exploration/exploitation strategies and organizations' alliance ambidexterity and determine that organizations with a high level of internal knowledge breadth are more likely to make focused alliance decisions. Second, our analysis of 145 US-based information technology organizations with an active alliance behavior reveals that having well-formed routines as a result of previous collaborations strengthens the tendency of brokerage organizations to follow alliances that focus on either exploration or exploitation. Although most alliance studies have commonly argued in favor of an ambidextrous approach, this study provides critical evidence that both internal knowledge exploration/exploitation strategies and development of routines constrain organizations' alliance formation decisions, guiding them towards a more focused approach.