Achieving Firm Ambidexterity Through Portfolio Management Meeting Conversations

ABSTRACT The ability to pursue exploration and exploitation simultaneously has been extensively examined within the ambidexterity framework in creativity and innovation research. However, whether and how firm portfolio management meetings enable ambidexterity has not yet been identified by analyzing managers' conversations during such sessions. Therefore, this study analyzed 84 conversational episodes from project portfolio management meetings (PPMMs) at a global chemical corporation. The findings indicate that firm ambiguity is generated through an exploratory, knowledge‐generating approach in the conversations. Rather than attempting to diminish or eliminate ambiguity, managers participated in both exploratory and exploitative dialogues, thereby transforming ambiguity into a constructive element for new knowledge creation. Approximately a quarter of the episodes facilitated mutual exploration of challenges, potential, and opportunities, thereby establishing a strong foundation for collaborative meaning exploration and coordinated joint actions. The remaining dialogues centered on exploitative discussions aimed at refining and optimizing ongoing projects and activities within predefined frameworks and rules. The findings indicate that in situ observations of meeting practices serve as an effective method for acquiring a more profound understanding of PPMMs. Moreover, they offer valuable insights into how management meetings enhance a firm's capacity to operate ambidextrously by transitioning between various conversational modes. Therefore, it is imperative to recognize and cultivate these distinct conversational styles, as they are vital for managing an organization's innovation initiatives through an ambidextrous approach that encompasses both exploration and exploitation.