In business, concurring and exploring are two different mentalities. Concurring is the mentality to win over all competition whiles exploring is the mentality to innovate and create something that out competes the competitor.

 

Both of these ideas are part of competition which is a part of capitalism.

 

Most business leaders turn to embody one of these mentalities and depending on which one they  choose, it shapes their corporate culture.

 

Cost:

As Jeff Bezos said in the video below, Amazon has chosen the exploring culture. It turns to be more expensive initially but it is less expensive in the long run because it creates innovation and puts your business ahead of the competition.Jeff Bezos says he has literally lost billions of dollars on new ideas but when they succeed they make up for the losses.The alternative is the concurring mentality. It cost less initially but it creates price wars in the long run with your competitors and there is a zero-sum game at the end.

Innovation:

In the exploring corporate culture, employees are free to create new ideas and try them out. If they win, a new innovation is born and there is no competition or before the competition catches on you are the market leader. In the exploring culture the barriers to entry becomes low when there is a zero-sum game of loosing which creates room for more competition. In business the goal is to become a monopoly and that is what Amazon is becoming in retail.

READ: What is your purple cow?

So in contrast on the bases of cost and innovation, it is clear that the mentality to explore new ideas as a corporate culture is winning over the mentality to undermine the competition.

 

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