Exploring new options versus exploiting existing ones is the trade-off at the heart of business strategy. With increasing change and unpredictability across industry sectors, finding an optimal balance between new and existing options is more important than ever.
An Atlas of Strategy Traps is BCG’s interactive guide to the various strategy traps that can be encountered when balancing between exploration and exploitation, highlighting both “sirens” (warning signs) and “lighthouses” (best practices). The atlas illustrates these traps with examples from business and beyond, drawing upon advances in algorithmic theory as well as more colorful lessons provided by famous explorers and inventors. With the atlas, executives can better spot the potential traps and make timely course corrections along the way.
Your Strategy Needs a Strategy
The competitive environments companies face today are increasingly diverse. In order to win, leaders need to match their strategy style with their environment. Your Strategy Needs a Strategy offers insights on how to compete in the five strategic environments companies face today.