One of the big themes emerging from the management and organisational development literature at the moment is that of organisational ambidexterity.
How to do both
A problem that has dogged many organisations is how to continue to exploit its existing capabilities whilst at the same time developing and exploring new ones. One of the most famous failures in this respect must be Kodak who invented the digital camera and yet this technology was the very thing that brought Kodak down.
Organisational ambidexterity refers to the ability to be able to do both things successfully at the same time, continue to successfully exploit and develop its existing products and capabilities whilst at the same time changing, adapting to new market conditions and developing new products and capabilities some of which may take the organisation in a completely new direction.
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