Exploration or exploitation? Rethinking innovation strategies through the lens of corporate entrepreneurship in Thailand

This study investigates how corporate entrepreneurship (CE) at the project team level enhances project performance via ambidextrous innovation in exploitative and explorative initiatives, and assesses environmental competitiveness's moderating role. Survey data from Thai managers reveal that CE drives both innovation types, mediating project success. In highly competitive environments, explorative innovation's importance increases, while exploitative innovation's impact diminishes. The findings advance organizational ambidexterity and CE literature by elucidating how team-level entrepreneurial actions foster innovation and performance in dynamic settings, providing practical insights for firms in competitive markets.