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Exploration and Exploitation as Effective Parts of Leadership

Exploration and Exploitation are two facets of leadership not often discussed in academic circles. Exploration in leadership is a process that leads to new creative breakthroughs and knowledge while exploitation is the process of using that new knowledge in a way that creates the most effective outcomes. Well rounded leaders should be able to explore new ideas and then develop strategies to capitalize on their findings. Exploration makes possible the understanding of new information and gathering knowledge on key issues. Exploitation is the ability implement sound strategies that can meet and achieve organizational objectives. People who are able to expand their current knowledge and then put that knowledge to good use are an asset to the organization. According to Keller & Weibler (2014) both exploration and exploitation comes with certain personality traits. For example exploration is associated with open to experience and environmental dynamism while exploitation are closel