This paper presents a study of the relationship between innovation competence and managerial behaviour. Within the resource-based view of the firm the development of new products is often related to the attainment of dynamic capabilities. Different levels of dynamic capabilities are expected to prompt different managerial behaviour. This study uses a role-play approach to investigating the relationship between innovation competence (exploitation or exploration competences) and the acquisition of information elements in a simulated new product development (NPD) process. Results show that two distinct clusters can be identified among respondents, one cluster with both exploitation and exploration competence experience and a second cluster only with exploitation competence experience. Contrary to expectations analysis of variance and Chi-square tests for independence show that there are no clear differences in the purchase of information elements between the two clusters.