I think my answer to your other questions applies to this question also. I repeat it here for those people who did not see that question:
In our latest paper, we argue that innovation can be about new processes that are introduced into a firm’s operations to enhance efficiencies or about new products and services that are introduced to the market to meet customer needs (Afuah, 2003). Innovation is also categorized as exploitative and exploratory innovation. Whereas
exploitative innovation builds on the firm’s existing knowledge base to improve its existing processes and products, exploratory innovation involves a shift to a different knowledge domain with the aim to adopt or create new processes and products
(Benner and Tushman, 2002).
Please see the following for more details:
Article: The Effects Of Geographic And Network Ties On Exploitative And Exploratory Product Innovation