We develop a social capital model that explains how networks of interorganizational relationships can be structured to manage exploration processes directed at gaining competitive advantage in different environmental contexts. We argue that a networkstructure of low density and high strength of relationships is beneficial if the main goal of the network is to actively configure the environment, e.g. under conditions of high environmental complexity. In contrast, a network structure of high density and low strength of relationships is advantageous if the adaptation to changing environmental conditions is the main concern of the embedded organizations, e. g., in contexts characterized by high environmental variability.
