The two types of organizational learning strategies proposed by James March to improve decision making are ________.
A) exploration and exploitation
B) creativity and bounded rationality
C) bounded rationality and benchmarking
D) exploration and bounded rationality

Question

Quizplus · Accepted Answer

James March proposed exploration and exploitation as two types of organizational learning strategies to improve decision making. Exploration refers to the search for new opportunities and experimentation, while exploitation focuses on the optimization of existing resources and capabilities. These two strategies complement each other and are key to achieving long-term success in an organization. Option B, creativity and bounded rationality, are not the two strategies proposed by James March. Option C, bounded rationality and benchmarking, includes bounded rationality, but not the second strategy proposed by March. Option D, exploration, and bounded rationality, includes one of March's strategies, but not the other. Therefore, option A is the correct answer.

The Two Types of Organizational Learning Strategies Proposed by James