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	<title>Tim KastelleEfficiency or Exploration? &#8211; Tim Kastelle</title>
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		<title>Efficiency or Exploration?</title>
		<link>https://timkastelle.org/blog/2011/10/efficiency-or-exploration/</link>
		<comments>https://timkastelle.org/blog/2011/10/efficiency-or-exploration/#comments</comments>
		<pubDate>Sat, 29 Oct 2011 02:21:48 +0000</pubDate>
		<dc:creator>Tim Kastelle</dc:creator>
				<category><![CDATA[innovation]]></category>
		<guid isPermaLink="false">https://timkastelle.org/blog/?p=3655</guid>

				<description><![CDATA[Here is a brilliant post from Randall Munroe on XKCD: There&#8217;s a very simple point here &#8211; strategy is about making choices. What we choose to emphasise reveals what we think it important. Here&#8217;s a simple business example: do we choose efficiency or exploration? In most cases, we need to do both. We need to [&#8230;]]]></description>
					<content:encoded><![CDATA[<p>Here is a brilliant post from <a href="http://xkcd.com/" target="_blank">Randall Munroe on XKCD</a>:</p>
<p><img data-recalc-dims="1" fetchpriority="high" decoding="async" alt="" src="https://i0.wp.com/imgs.xkcd.com/comics/the_important_field.png?resize=635%2C276" title="priorities" class="aligncenter" width="635" height="276" /></p>
<p>There&#8217;s a very simple point here &#8211; strategy is about making choices.  What we choose to emphasise reveals what we think it important.</p>
<p>Here&#8217;s a simple business example: do we choose efficiency or exploration?</p>
<p>In most cases, we need to do both.  We need to get better at what we&#8217;re currently doing (efficiency) and we need to create new opportunities through innovation (exploration).  But if we err, most organisations err on the side of choosing efficiency over exploration.</p>
<p>You could also frame this as choosing the short run over the long run.</p>
<p>Is this really what we should be doing?</p>

<div id='jp-relatedposts' class='jp-relatedposts' >
	<h3 class="jp-relatedposts-headline"><em>Related</em></h3>
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