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The senior leaders say it is a bitch to manage thesetwo types of businesses. It takes a great deal of time,and they know there will be great outcomes, butthey will not see them for 12–24 months. They sayit's like brushing your teeth—you've got to do itevery night, but you only know when you go to thedentist whether it was worth the effort.(General manager, IT Services strategic business unit)Organizations are rife with competing demands.At an organization's highest level, senior leadersface such pressures as exploring and exploiting(March, 1991), integrating globally and adaptinglocally (Marquis & Battilana, 2009), or maximizingprofits and improving social welfare (Margolis &Walsh, 2003). Early organizational scholars acknowledgedthese competing strategic demands,but argued that success depended on leaders makingchoices and maintaining a consistent commitmentto these decisions (Barnard, 1938; Thompson,1967). Now, in the context of more complex andglobal environments, organizations and their leadersface pressures to address multiple, competingstrategic demands simultaneously (Jarzabkowski &Sillince, 2007; Kraatz & Block, 2008; Smith, Binns,& Tushman, 2010). Rather than choosing betweenalternatives, long-term performance depends onengaging them both. Yet, as the epigraph suggests,doing so challenges and frustrates senior leaders.Paradox theory offers insight into these challenges(Quinn & Cameron, 1988; Smith & Lewis, 2011). Paradoxesdenote tensions that coexist and persist overtime, posing competing demands that require ongoingresponses rather than one-time resolutions(Lewis, 2000). Studies describe approaches to managingparadoxes in general that include acceptingparadoxes as vital and learning to work through them(Luscher & Lewis, 2008), accommodating contradictionsinto novel synergies (Eisenhardt & Westcott,1988; Rothenberg, 1979), or differentiating and integratingto understand alternatives (Andriopoulos &Lewis, 2009; Smith & Tushman, 2005). More recently,Smith and Lewis (2011) have theorized a model incorporatingthese various approaches that involvesmanaging paradox by accepting tensions as inherent,and shifting between choosing and accommodatingalternatives over time. However, we still know littleabout the specific nature and management ofstrategic paradoxes, which—drawing from Lewis(2000) —I define as contradictory, yet interrelated,demands embedded in an organization'sgoals. Managing strategic paradoxes is particularlychallenging for top management teams, becauseeven as they might seek to maximize both
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