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The purpose of this study is to synthesize the literature on the topic of strategic renewal by identifying the key dimensions of extant research and the connections between fragmented research domains.

This study applies systematic literature review to identify the level of consistency and generalizability of research findings across existing studies in a comprehensive manner.

This study identifies six main themes of strategic renewal in the extant literature: (1) antecedents, (2) initiation, (3) logic, (4) structure, (5) process and (6) outcomes of strategic renewal.

By integrating the current streams of research, the review offers a conceptual model of strategic renewal that maps the current state of the research and provide insights into key themes for the future research.

This study, identifies connections between fragmented research domain and offers a conceptual framework of strategic renewal.

Firms need to constantly renew themselves to keep up with the pace of competition and proactively establish innovations to the markets. This requires capabilities in learning and renewing of the firm’s knowledge base, conceptualized as renewal capital of the firm. On the other hand, firms that acquire high levels of competitiveness by renewing their knowledge base also need to protect that knowledge from unwanted spillovers. This study aims to examine how renewal capital affects incremental and radical innovation performance of the firm, moderated by the firm’s protection of its strategic knowledge.

The study is based on a multi-industry survey study with a time-lagged data set, with independent variables collected in the first wave, followed by a second wave four years later for the dependent variables. The authors test the hypotheses using partial least squares structural equation modeling.

The authors find that firms’ renewal capital is positively associated with the level of incremental and radical innovation. Furthermore, the authors find that knowledge protection negatively moderates the relationship between renewal capital and incremental innovation performance of the firm. In case of radical innovation performance, similar moderating effect is not statistically supported.

With a time-lagged research design, this study study reveals the interdependent roles of renewal capital and knowledge protection for firm’s innovation performance, and provides insights of when (and when not) it would be beneficial for a firm to seek renewal and protective oriented approaches.

The purpose of this paper is to emphasize the role of talent management (TM) in strategic renewal. Furthermore, the authors extend the existing knowledge on the process of TM implementation by underlining particular activities, which are involved in this process during strategic renewal.

The authors report a qualitative study of a TM program in a Finnish–Swedish Multinational corporation undergoing major strategic renewal. The data consist of 46 semi-structured interviews and secondary data.

The role of TM in the context of strategic renewal is to provide the conditions for the self-initiation and identification of potential change agents and for the development of the talented employees to perform in their roles of change agent. In the context of strategic renewal, TM process consists of identification of key projects to address critical business opportunities and challenges, the identification of talented employees to execute them, and the identification and creation of key positions.

The authors encourage scholars to explore the empirical settings characterized by change and unpredictability in more detail, and thus examine the role of talented employees and TM in other specific contexts. Future studies are also encouraged to study other cultural settings and examine to what degree the process of TM implementation may positively influence attitudes and behaviors of talented employees and, consequently, the overall organizational performance.

This study offers practical advice for top management and HR managers. First, the process of TM implementation during strategic renewal should start with the identification of “must-win-battles” that can have a more profound impact on change. Furthermore, top management should allow and enable motivated potential talented employees to volunteer for the job of aiding company-wide changes. Next, top management should provide the talented employees with the space to come up with novel ideas and conceive new business opportunities. Finally, the importance of transparent and spot-on evaluation criteria should be emphasized.

The study contributes to advancing our understanding of TM and strategic management in practice.

The purpose of this study is to investigate how an increasingly intertwined international geography of ownership affects renewal activities and processes, including innovation, in established local companies that have shifted into foreign ownership. The authors develop a framework for the relations between (foreign) ownership and local renewal activities and processes (including innovation). The authors focus on access to resources for renewal, the development of capabilities for innovation and change, and local mandates to pursue renewal. Based on case studies of eight formerly Swedish-owned mid-size manufacturing companies that have shifted into and remained under foreign ownership during most of the 2010s, the authors develop a framework concerned with the relations between (foreign) ownership and renewal activities and processes in local firms.

Multiple intensive case studies of eight previously Swedish-owned mid-sized manufacturing companies to gain qualitative insights into the resource, capabilities and mandates for renewal under new ownership conditions. Empirical data collected primarily through semi-structured interviews and complemented with secondary material, including annual reports (2010–2018), databases, press releases and information on company websites. Empirical data were analyzed thematically to isolate key findings pertaining to renewal. At the core of the analysis process was the gradual creation of a framework that stipulates the relations between (foreign) ownership and firm renewal activities and processes.

The companies are endowed with liberal but conditional mandates to pursue strategic innovation in their original sites and draw on a stronger resource repertoire within their ownership spheres. In comparison to the established international business (IB) literature, the authors add considerations about how local aspects interact with international ones to form global distribution of renewal activities in our time. To economic geographers and innovation scholars, consideration of the local and its importance in renewal activities and processes is certainly not new, but we show how ownership is an important aspect that conditions some of the strategic interactions that companies have with their “outsides”.

Contributes to the burgeoning conversation between IB and economic geography disciplines. Emphasizes a deeper local aspect to the IB literature, partly how companies access resources and capabilities from the ownership sphere at points that suit their renewal efforts and partly the persistence of path-dependent aspects of local companies even as they get acquired by multinationals. Emphasizes ownership and mandate aspects to the literature in Economic geography, which tends to focus on regional/non-regional assets for renewal and innovation. Findings show that the non-regional assets are, in fact, two distinct categories as ownership becomes internationalized: assets within and outside the ownership sphere.

This paper aims to analyze the underlying factors of contract renewals in business-to-business (B2B) contracts.

The authors build a unique data set with 296 contracts signed between a major firm supplying petrochemical goods and its 128 customers between 2013 and 2016. They use Insider Econometrics as their methodological approach.

The econometric results suggest that contracts involving higher volume of trade, higher levels of dedicated assets representing seller’s specific investments in each transaction, and contracts comprising more than one product present an increased likelihood of being renewed.

Although limited to a single organization, this paper contributes to management theories focused on buyer–supplier relationships in which coordination between interdependent parties is required.

Practitioners engaged in B2B relationships may benefit from the findings to shape their bargaining strategies in contexts of high levels of asset specificity and bilateral dependence.

This paper contribute to theories related to the strategic negotiation between buyers and suppliers by emphasizing the importance of asset specificity in a nuanced and multifaceted fashion, by highlighting aspects related to resource dependency, and idiosyncratic characteristics on contract renewal.

The purpose of this paper is to examine the current state of corporate entrepreneurship (CE) of emerging market firms (EMFs) and provide direction for future research on the topic.

The authors specifically review the recent literature between the years 2000 and 2019 on CE with the keywords “corporate entrepreneurship,” “emerging economies” and “emerging countries” published in the Australian Business Deans Council list journals. The authors review the existing literature about CE in emerging markets, summarize current achievements and present an agenda for future research.

Based on the review, the authors categorized the macro and micro contexts of CE and summarized the current articles on CE in emerging markets within each macro and micro context. The authors conclude that despite the abundance of research on CE that investigates the three prongs of CE in terms of innovation, strategic renewal and new venturing in developed market contexts, there is a scarcity of literature that focuses on CE in emerging markets from a holistic perspective.

While there is an abundance of literature review on CE in general in terms of the drivers of the construct, the contexts contributing to it and the outcomes, the reviews are lacking about CE specifically within the context of emerging markets. Emerging markets vary from developed markets institutionally, economically, culturally, socially and technologically. However, the questions of how these differences impact the CE activities, as it relates to innovation, venturing and strategic renewal in EMFs, and how these differences provide incentives or hinder the activities that contribute to CE remain mostly unanswered. This paper reviewed the research on CE and emerging market contexts from 2000 to present. It targets to provide a better understanding of the current achievement on this topic and what to be done in the future.

In recent decades many emerging markets (EMFs) have undertaken entrepreneurial transformations to adapt to institutional transition and industrial change. Corporate entrepreneurship (CE) provided EMFs viable ways to revitalize, reconfigure, and transform successfully with the dynamic environment. Although previous research examined government roles on EMFs' CE activities, little is known about the mechanisms of how government exerts influence on CE activities. To fully understand CE of EMFs, we propose a stage model to explore specific roles governments play that affect CE activities over time. In particular, we investigate how governments' grabbing hand, helping hand, and invisible hand roles affected Chinese auto firms' CE activities at different stages from 1980 to 2016. Government involvement is summarized and the advantages and disadvantages of these roles are analyzed.

Using the lens of crisis innovation and strategic alignment, this study explores how a segment of the restaurant sector that may be less agile than others—Michelin-starred restaurants—perceives and aligns with the challenges brought about by the COVID-19-pandemic.

The study collected data from 19 Michelin-starred restaurants in Spain using a qualitative interview method. The data were analyzed qualitatively and organized thematically.

Four key categories of strategic challenges were identified: human resources, uncertainty, control and economic challenges. In response, chefs displayed both behavioral and organizational strategies. Those organizational strategies were new human resource management, reorganization, product and service innovation and marketing. While the new human resource management actions adopted to align with the human resource challenges identified, a misalignment remains between some of the other strategic actions, such as product and service innovation, marketing and economic and uncertainty challenges.

The findings offer new insight into Michelin-starred restaurant chefs' challenges and (mis)alignment strategies, an area that has been understudied in the current literature on innovative responses in the hospitality sector post-pandemic.