Series 3, Episode 9: How should firms balance exploration and exploitation? with Dr Axel Zeijen, ETH Zurich

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Brain for Business

116 episodes

1 week ago

The Brain for Business podcast takes the lessons from evidence-based academic research in the brain, behavioural and organisational sciences - neuroscience, psychology, behavioural economics and more - and brings them to life for a business and organisational audience. Over the series we will speak to a range of neuroscientists, psychologists, behavioural economists, researchers and organisational practitioners, and look at some of the key aspects of human behaviour relevant to business and management practice. In so doing, we will seek to understand not just the what but also the how and the why – and how it can be done differently Our overall goal? To build a bridge from research into the brain and behavioural sciences to practical, everyday insights and to help leaders at all levels within organisations enhance their effectiveness.

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Series 3, Episode 9: How should firms balance exploration and exploitation? with Dr Axel Zeijen, ETH Zurich

Brain for Business

35 minutes 52 seconds

4 months ago

Series 3, Episode 9: How should firms balance exploration and exploitation? with Dr Axel Zeijen, ETH Zurich

Balancing exploration and exploitation is a fundamental strategic challenge for organizations operating in dynamic environments. Managers must decide how often and when to search for new technologies and products, weighing the costs of exploration against the risk of missing trends that could render their business models obsolete

To dig deep into this topic I am delighted to be speaking today to Professor Axel Zeijen.

About our guest…

Axel Zeijen is a Lecturer at the Department of Management, Technology, and Economics at ETH Zurich in Switzerland.

With a background in industrial engineering and innovation sciences, Axel is broadly interested in technological change and its organizational implications. In particular, he attempts to understand where and how technological forces and firm strategy interact, and how this process plays out. His research projects cover industries where new

technologies change the capabilities of firms, create new opportunities for change, and affect how competition plays out.

The articles discussed in the podcast area as follows (both open access):

Zeijen, A., Romagnoli, M., & Marengo, L. (2025). Signposts for problemistic search: Reference points and adaptation in rugged landscapes. Strategy Science. https://pubsonline.informs.org/doi/full/10.1287/stsc.2023.0072
Denrell, J., Zeijen, A., Romagnoli, M., & Marengo, L. (2025). Absolute, average‐based, and rank‐based aspirations. Strategic Management Journal. https://sms.onlinelibrary.wiley.com/doi/full/10.1002/smj.3715

Websites for Axel and each of his co-authors are as follows:

Axel Zeijen - https://timgroup.ethz.ch/people/senior-researchers/dr-axel-zeijen.html
Jerker Denrell - https://www.wbs.ac.uk/about/person/jerker-denrell/
Manuel Romagnoli - https://www.wiwi.uni-jena.de/en/11462/dr-manuel-romagnoli
Luigi Marengo - https://scholar.google.com/citations?user=OKWSBtQAAAAJ&hl=en

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