Summary: Based on the movie “The founder” (https://www.imdb.com/title/tt4276820/) about the history of McDonald, provide a detailed account of: the activities you view as belonging to exploitation the activities you view as belonging to the exploration a comparative account of exploration and exploitation as presented in the movie. The discussion of exploration and exploitation should be at least half page for each exploration and exploitation.
What is exploration, exploitation, and ambidexterity at your job?
Exploration, exploitation, and ambidexterity Ambidexterity is an organisations ability to be aligned and efficient in managing current business demands and also be adaptive to changes in the environment at the same time. It allows an organisation to effectively utilise its resources (exploitation), and explore new resources, capabilities, strategies, and approaches (exploration). Exploitation is required to remain competitive in the current market, whereas exploration prepares for meeting future needs. Both exploitation and exploration are essential for organisations, but they compete for scarce resources. However, they are also needed simultaneously as the failure to manage them can be counterproductive to overall performance. Focusing only on exploitation can result in failure to innovate and to address future market needs. Focusing only on exploration can lead to poor efficiencies and wastage of organisational resources. Therefore, co-existence of both is needed as failure to manage these tensions can result in a success trap (too much exploitation at the expense of exploration) or a failure trap (too much exploration at the expense of exploitation).