This study analyzes the long-term development of a leading R&D-oriented company, using the concept of “contextual ambidexterity” as a basis. Observation over an extended period focused on what was achieved by pursuing the “exploration” and “exploitation” of knowledge as well as the dynamic organizational adaptation that made this possible. The results clearly show the importance of incremental implementation of policies related to bringing the “social support context” and “performance management context” to a higher level and the interaction between the two contexts.