Decision on firms´ explorative and exploitative innovation strategy based on multi-agents simulation method

Author

Guoxiang, Ruan

Author_Institution

Sch. of Manage., Shandong Inst. of Bus. & Technol., Yantai, China

Volume

1

fYear

2012

fDate

20-21 Oct. 2012

Firstpage

232

Lastpage

235

Abstract

Firms need to decide how to allocate resources between exploratory and exploitive innovation to satisfy with market competition. The model of relation between resource allocation and firm performance is set up. By the Netlogo software platform with different parameters combination, the relations between exploratory and exploitive innovation under various market competition conditions are analyzed. The result is that the trade-off between the two kinds of innovations which is getting more important with the enhancing market competition is beneficial for promoting firm performance. The model provided by this article is helpful for firms´ innovation decision analysis.

Keywords

business data processing; digital simulation; innovation management; multi-agent systems; resource allocation; Netlogo software platform; exploitative innovation strategy; explorative innovation strategy; firm performance; innovation decision analysis; market competition; multiagent simulation method; parameter combination; resource allocation; Analytical models; Companies; Marketing and sales; Resource management; Technological innovation; competition performance; exploitive innovation; exploratory innovation; multi-agents simulation;

fLanguage

English

Publisher

ieee

Conference_Titel

Information Management, Innovation Management and Industrial Engineering (ICIII), 2012 International Conference on

Conference_Location

Sanya

Print_ISBN

978-1-4673-1932-4

Type

conf

DOI

10.1109/ICIII.2012.6339641

Filename

6339641