Exploitation or Exploration?
Episode 4, Aug 02, 2021, 12:36 PM
Gareth speaks with tech entrepreneur, business coach, cryptocurrency CMO and TEDtalk thought-leader, Jonathan Macdonald, the Sunday Time Bestselling Author of Powered By Change – his 5th book – who has recently published his 6th book, The Rise of Advanced Thought. They discuss the common business paradox of how to apportion sufficient time to exploration of new designs and ideas, whilst also maintaining revenue from continued exploitation of established products or services.
The revenues of most established businesses depend on their established product or service offering, and this often involves the continued exploitation of former innovations that become increasingly commoditised.
By contrast, startup businesses focus on the exploration of new ideas and innovations, in order to penetrate a market with interesting new value-propositions.
In this episode, Gareth speaks with Jonathan Macdonald, the Sunday Time Bestselling Author of Powered By Change – his 5th book – who has recently published his 6th book, The Rise of Advanced Thought.
Jonathan's experience as a serial-startup tech entrepreneur, business coach, cryptocurrency CMO and TEDtalk thought-leader make for some fascinating discussion, which focuses primarily on the paradox that many businesses face over how to best balance their activities to address both the exploitation and exploration that they require in order to stay ahead and drive market change.