by Art Markman
Almost all decisions, big and small, are choices between exploring new possibilities and exploiting old ones. When you explore, you select an option that’s unknown—or reexamine one that wasn’t optimal in the past to get new information about it. When you exploit, you choose something that’s yielded good results before, believing it will do so again.
Of course, the known course is safer. But if the newer, riskier one works out, chances are it will also pay off more handsomely. Continue reading