About this talk: What strategy traps repeatedly entice well-meaning organizations and people? All to often, alluring and ambitious plans for the next big thing tease with a sense of promise and growth, but ultimately fail to deliver again and again. Knut Haanaes explores the important balance between two parallel strategies: exploration – vying for what is new – and exploitation – perfecting what is old. He explains the vital importance of balancing these strategies, ensuring that maximum benefit is derived from existing assets and that new ventures and thinking is always part of the overall plan.