Exploration and exploitation in established small and medium-sized enterprises: The effect of CEOs' regulatory focus |
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| Affiliation: | 1. Texas Christian University, Neeley School of Business, TCU Box 298530, Fort Worth, TX 76129, USA;2. Concordia University, John Molson School of Business , 1450 Guy St, Montreal, QC H3H 0A1, Canada;1. Ghent University, Faculty of Economics and Business Administration, Tweekerkenstraat 2, B-9000 Gent, Belgium;2. Norwegian University of Science and Technology (NTNU), Department of Industrial Economics and Technology Management (IØT), Alfred Getz veg 3, N-7491 Trondheim, Norway;3. University of Oslo, Centre for Entrepreneurship, Gaustadalléen 21, N-0318 Oslo, Norway;1. Retail Supply Chain Institute at Babson College, USA;2. Babson College, USA;3. Consumer Marketing, Saïd Business School, Oxford University, Oxford Institute of Retail Management (OXIRM), UK;4. Marketing, Babson College, USA;5. Marketing, Syms School of Business, Yeshiva University, USA;6. Lancaster University Management School, Lancaster University, UK;7. Maastricht University, Netherlands;8. Department of Marketing, Maastricht University, Netherlands;1. University of Amsterdam, Work and Organizational Psychology, Weesperplein 4, 1018XA, The Netherlands;2. Knowledge Media Research Center, Schleichstrasse 6, 72076 Tübingen, Germany;3. University of Groningen, Department of Psychology, Grote Kruisstraat 2/1, 9712TS Groningen, The Netherlands;1. School of Management and Economics, The Chinese University of Hong Kong, Shenzhen 2001 Longxiang Blvd, Longgang district, Shenzhen 518172, China;2. Department of Management and Marketing, The Hong Kong Polytechnic University, 11 Yuk Choi Rd, Hung Hom, Hong Kong;1. Cameron School of Business, University of St. Thomas-Houston, 3800 Montrose Blvd, Houston, TX 77006, United States of America;2. C. T. Bauer College of Business, University of Houston, 334 Melcher Hall, Houston, TX 77204, United States of America |
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| Abstract: | Based on theory of regulatory focus and organizational ambidexterity, we hypothesize that the level of engagement in exploration and exploitation in a small or medium-sized enterprise (SME) is affected by the respective CEO's chronic regulatory focus. In our analysis of survey responses from CEOs in Switzerland, we find that the CEO's level of promotion focus positively affects the firm's engagement in both, exploration and exploitation, while the CEO's prevention focus is negatively associated with the firm's exploration but not significantly related to its exploitation. The positive associations between a CEO's promotion focus and the firm's exploration/exploitation activities are enhanced under conditions of intense competition. |
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