This study focuses on the role of strategic learning as a mediating construct between opportunity-seeking (exploration) and advantage-seeking (exploitation) strategies and profi t performance. Prior studies argue that the effect of these core elements of strategic entrepreneurship (exploration and exploitation) cannot be fully captured through their direct effects on profi t performance, but that this relationship consists of mediating factors. This study proposes that the process of strategic learning, through its intraorganizational elements that enable the dissemination, interpretation, and implementation of strategic knowledge, enables fi rms to capitalize on the benefi ts of both exploration and exploitation strategies. Results from 206Finnish software fi rms indicate that strategic learning fully mediates the relationship between exploration, exploitation, and profi t performance. The result contributes by stressing the importance of strategic learning processes, especially in conjunction with entrepreneurial exploration strategies. Furthermore, the study demonstrates that the effect from exploration to strategic learning is moderated by the level of exploitation. This moderation effect suggests that the strategic learning is limited, being a path dependent capability that favors exploitation over exploration when stretched. However, strategic learning effectively allows both types of strategies to improve profi t performance. Copyright © 2012 Strategic Management Society. INTRODUCTIONThe strategic entrepreneurship literature integrates entrepreneurship and strategic management research to study the antecedents, effects, and mechanisms of opportunity-seeking (exploration strategy) and advantage-seeking (exploitation strategy) behaviors, suggesting the existence of positive performance effects derived from the balanced application of these strategies (Hitt et al., 2011;Hitt et al., 2001;Ireland, Hitt, and Sirmon, 2003;March, 1991;O'Reilly and Tushman, 2008). Although some of the studies report direct effects of exploration and exploitation on fi rm performance, others (Raisch et al., 2009;Raisch and Birkinshaw, 2008;Simsek et al., 2009) contend that the relationships are more complex, with various factors either mediating or moderating the linkages. Recently, researchers have proposed various processes (e.g., innovation process) and capabilities (e.g., absorptive capacity) that support the capitalization of these strategies (Kohtamäki, Kautonen, and Kraus, 2010;Lubatkin Keywords: exploration strategy; exploitation strategy; ambidexterity; strategic learning; exploitation trap; profi t performance *Correspondence to: Charlotta A. Sirén, Department of Management, University of Vaasa, PO Box 700, Vaasa, Simsek et al., 2009) call for studies analyzing fi rms' internal process-related mediating and moderating factors in the link between exploration, exploitation and fi rm performance.To address this issue, we introduce the construct of strategic learning (e.g., Mintzberg and Waters, 1985) as a mediating fa...

Decision making is one of the most complex skills required of an oncologist and is affected by a broad range of parameters. For example, the wide variety of treatment options, with various outcomes, side-effects and costs present challenges in selecting the most appropriate treatment. Many treatment choices are affected by limited scientific evidence, availability of therapies or patient-specific factors. In the decision making process, standardized approaches can be useful, but a multitude of criteria are relevant to this process. Thus, the aim of this review is to summarize common types of decision criteria used in oncology by focusing on 3 main categories: criteria associated with the decision maker (both patient and doctor), decision specific criteria, and the often-overlooked contextual factors. Our review aims to highlight the broad range of decision criteria in use, as well as variations in their interpretation.

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This paper provides an evaluative overview of the new venture survival literature. Since Stinchcombe's primary attempt to explain the mortality rates of new ventures, different research fields, including entrepreneurship, management and sociology, have devoted considerable attention to the antecedents of new venture survival. Despite this lively research commitment, a comprehensive review of the literature on new venture survival-as one of the most essential performance measures for new ventures-is missing. Covering 54 years of research, this paper provides an overview of the factors affecting new venture survival and highlights important methodological aspects in this research field. The review concludes by discussing opportunities for future research.