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Book part
Publication date: 19 July 2005

Bert Flier, Frans A.J. van den Bosch, Henk W. Volberda and Charles Baden-Fuller

How do large well-established firms renew themselves in an increasing turbulent environment? Is there a generic pattern of change or is each change journey rather…

Abstract

How do large well-established firms renew themselves in an increasing turbulent environment? Is there a generic pattern of change or is each change journey rather idiosyncratic? We posed five questions about the nature of renewal patterns. First, how do firms combine external versus internal initiatives in a trajectory of strategic renewal? Second, how does the balance of competence building and competence leveraging evolve in a trajectory of strategic renewal? Third, what are the sequences of action in a strategic renewal process? Fourth, do firms differ regarding speed of their renewal processes? Finally, do different strategic renewal trajectories give rise to different or similar outcomes? Using a simple framework and new metrics we described and analyzed the strategic renewal journeys of the five largest financial service firms in the Netherlands during the period 1990–1997. We found equifinality in viable trajectories of strategic renewal. In four out of five firms, they result in similar outcomes due to mimetic behavior. Nonetheless, one firm showed deviant strategic behavior.

Details

Competence Perspectives on Resources, Stakeholders and Renewal
Type: Book
ISBN: 978-0-76231-170-5

Open Access
Article
Publication date: 6 January 2020

Kati Järvi and Violetta Khoreva

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…

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Abstract

Purpose

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.

Design/methodology/approach

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.

Findings

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.

Research limitations/implications

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.

Practical implications

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.

Originality/value

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

Details

Employee Relations: The International Journal, vol. 42 no. 1
Type: Research Article
ISSN: 0142-5455

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Article
Publication date: 13 February 2017

Saleh Al Humaidan and Valerie Sabatier

The purpose of this paper is to analyze how strategic renewal occurs in large incumbent newspaper companies facing a specific context of environment scarcity (i.e…

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Abstract

Purpose

The purpose of this paper is to analyze how strategic renewal occurs in large incumbent newspaper companies facing a specific context of environment scarcity (i.e. environmental dissolution (the market gradually changing in size and scope)). Within the media industry, the Kingdom of Saudi Arabia (KSA) offers a particularly interesting research setting because the number of competitors in the regional market is regulated by the government; consequently, the incumbent firms face the same local environment. This situation offers the possibility to shed light on how the orientation of the top management team (TMT) of the firm influences the strategic renewal and the traditional business model of the firm.

Design/methodology/approach

The strategic renewal of the three largest incumbents of the print newspapers in KSA over 12 years (from 2000 to 2012) was analyzed with a qualitative approach (archival data and 30 interviews with the TMTs of each company and with external observers). A two-step analysis of within-case analysis and cross-case analysis was used.

Findings

Building on Schmitt et al.’s (2016) framework, it was empirically found that depending on the orientation of the TMT, the managerial perception of the firm’s environment within the same scarcity situation leads to different strategic renewal responses. The findings demonstrate that internally oriented TMTs engage in incremental business model changes, while externally oriented TMTs engage in disruptive business model changes. However, management’s attitude toward technology has been neglected in the literature so far, and it was concluded that technology plays a mediating role in strategy renewal.

Research limitations/implications

Recent research on strategic renewal in times of environmental scarcity has built on both population ecology and strategic choice literatures and has argued that varying CEO perceptions can lead to very different strategic responses. Other research on business models has started to explore the role of technology in business model evolution. In the context of environmental dissolution, it can be argued that the attitude of the TMT toward technology has a mediating role in business model evolution.

Practical implications

In times of environmental dissolution – the traditional market of the firm changes not only in size but also in scope – strategic renewal is conditioned by the orientation of the TMT and its attitude toward technology. When the traditional business model of the firm is put under pressure by such changes, teams with an external orientation or an appetite for technology will be more likely able to engage in business model disruption.

Originality/value

The authors have had the opportunity to conduct case studies on three large newspapers companies in a country where the regulation is very strong and press freedom is not comparable to other European or North-American countries.

Details

Journal of Organizational Change Management, vol. 30 no. 1
Type: Research Article
ISSN: 0953-4814

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Article
Publication date: 24 August 2012

Hagen Worch, Mundia Kabinga, Anton Eberhard and Bernhard Truffer

The purpose of this paper is to analyze how strategic renewal affects the reconfiguration of capabilities. In the context of organizational change in a large utility firm…

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Abstract

Purpose

The purpose of this paper is to analyze how strategic renewal affects the reconfiguration of capabilities. In the context of organizational change in a large utility firm, we examine the evolution of the capability structure, and explain the emergence and persistence of capability gaps.

Design/methodology/approach

The paper uses an inductive multiple case study methodology to compare four processes of capability reconfiguration at Eskom, South Africa's electricity supplier.

Findings

The results show that strategic renewal unfolds through different processes, which vary in their impact. Some processes have an immediate effect in closing capability gaps. The impact of others is with a significant time lag. Most critical, however, are processes that widen capability gaps. As a result, firms may face severe and persistent performance deficiencies.

Research limitations/implications

Prior research has only marginally addressed the relationship between strategic renewal and capability reconfiguration, and has largely neglected emerging capability gaps.

Practical implications

Strategic renewal may cause unintended crowding out effects of specific capabilities. Managers need to consider these potential implications of strategic renewal.

Social implications

Understanding the challenges of how to improve the performance of utility services is crucial for economic development, welfare and social inclusion.

Originality/value

This study importantly highlights that the emergence of capability gaps is a common phenomenon rather than an exception in strategic renewal processes. The findings contribute to the strategic renewal literature and to management research in infrastructure sectors.

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Article
Publication date: 19 February 2021

Samar Hayat Khan, Abdul Majid, Muhammad Yasir, Asad Javed and Hassan Ahmed Shah

The objective of this study is to evaluate the key issues that how social capital augments the initiation of strategic renewal through the mediating role of…

Abstract

Purpose

The objective of this study is to evaluate the key issues that how social capital augments the initiation of strategic renewal through the mediating role of entrepreneurial orientation and the moderating role of organizational flexibility. In the context of Small and Medium Enterprises (SMEs) of developing economies, the study developed and tested the theoretical model of strategic renewal for analyzing its major outputs.

Design/methodology/approach

This study utilized cross-sectional design and employ quantitative approach. The data were collected from the owner, managers and executive directors of pharmaceutical SMEs of Pakistan. The study used statistical analysis of correlation and regression for the analysis of data.

Findings

The study discovered that entrepreneurial orientation mediates the positive relationship of social capital and strategic renewal. Moreover, high organizational flexibility strengthens the association between social capital and strategic renewal of SMEs.

Originality/value

This research contributes to the body of knowledge by providing empirical evidence that how to thrive the mechanism of strategic renewal. The study further provides understanding of the effects of organizational social capital, entrepreneurial orientation and organizational flexibility on strategic renewal.

Details

World Journal of Entrepreneurship, Management and Sustainable Development, vol. 17 no. 2
Type: Research Article
ISSN: 2042-5961

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Article
Publication date: 6 August 2020

Kilho Shin and Liliana Pérez-Nordtvedt

The purpose of this study is to investigate what type of knowledge enhances the frequency of strategic renewal for organizations operating in high velocity environments…

Abstract

Purpose

The purpose of this study is to investigate what type of knowledge enhances the frequency of strategic renewal for organizations operating in high velocity environments. It also investigates whether strategic renewal frequency is beneficial, rather than harmful in such environments.

Design/methodology/approach

The study followed a two-step data collection process involving pilot interviews and an on-site survey data collection procedure. The authors first conducted face-to-face pilot interviews with 16 fashion retailers lasting 30 min to 2 h. They then tested their hypotheses by using a sample of 152 South Korean fashion retailers, as the fashion industry is a prototypical high velocity environment.

Findings

Firms that have a higher rate of strategic renewal frequency outperform those with a lower one. Moreover, the frequency of strategic renewal mitigates the ill effects of lack of legitimacy not imbued by a franchisor’s backing. Finally, firms can increase the frequency of their strategic renewal efforts by accessing knowledge from their main customers more efficiently.

Originality/value

The results of this study provide a refined picture of the role of knowledge acquisition efficiency and strategic renewal frequency in the pursuit of competitive advantage in high velocity environments.

Details

Journal of Knowledge Management, vol. 24 no. 9
Type: Research Article
ISSN: 1367-3270

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Article
Publication date: 7 January 2019

Chengli Shu, Dirk De Clercq, Yunyue Zhou and Cuijuan Liu

The purpose of this paper is to examine how entrepreneurial orientation (EO) and strategic renewal (as a critical dimension of corporate entrepreneurship) might transmit…

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Abstract

Purpose

The purpose of this paper is to examine how entrepreneurial orientation (EO) and strategic renewal (as a critical dimension of corporate entrepreneurship) might transmit government institutional support and thereby enhance firm performance in a transition economy.

Design/methodology/approach

Multi-respondent data were collected from 230 Chinese-based firms. The hypotheses were tested with structural equation modeling, in combination with a bias-corrected bootstrap method, to assess the significance of the theorized direct and indirect relationships.

Findings

Government institutional support enhances EO and strategic renewal individually, yet EO also fully mediates the relationship between government institutional support and strategic renewal. Moreover, strategic renewal fully mediates the relationship between EO and firm financial performance, and it partially mediates the relationship between EO and firm reputation.

Originality/value

This study contributes to entrepreneurship literature by testing an organization-level model of entrepreneurial phenomena in established firms that identifies EO and strategic renewal as two distinct mechanisms through which government institutional support in a transition economy can enhance organizational effectiveness, which entails the firm’s financial performance and reputation. In doing so, this study provides an extended understanding of how EO and strategic renewal might influence a firm’s financial and nonfinancial outcomes in different ways.

Details

International Journal of Entrepreneurial Behavior & Research, vol. 25 no. 3
Type: Research Article
ISSN: 1355-2554

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Article
Publication date: 31 May 2011

Jaana Junell and Pirjo Ståhle

The purpose of this paper is to provide a quantitative measure for organizational renewal capability which would enable inter‐firm comparison and external communication…

Abstract

Purpose

The purpose of this paper is to provide a quantitative measure for organizational renewal capability which would enable inter‐firm comparison and external communication. To make the tool more concrete for the reader, a case organization with the measurement results and conclusions is described.

Design/methodology/approach

A method of how renewal capability can be shown on an organizational level and measurement is demonstrated. The approach is based on systems thinking, but it also has boundary surfaces with the knowledge‐based theory of the firm, dynamic capability approach, and intellectual capital (IC) research. A tool for analyzing and measuring organizational renewal, called KM‐factor®, and the theoretical model behind it, is presented.

Findings

The preliminary analysis indicates that the indexes of KM‐factor® correlate strongly with the future financial success of the company. Thus, the results refer to the fact that companies with (system based and strategy connected) renewal capability have more competitive advantage than others. It is crucial for the organization to understand the required change direction in renewal capability to achieve sustainable competitive advantage.

Originality/value

The topic of renewal has been increasingly dealt with by the research traditions of IC, knowledge management and strategic management. However, even if several relatively consolidated theories about the composition of IC or competitiveness have been presented – renewal being one of the components – the operational and measurement perspectives of continuous renewal have mainly been neglected. This paper demonstrates a quantitative and practical implementation of organizational renewal capability measurement.

Details

Competitiveness Review: An International Business Journal, vol. 21 no. 3
Type: Research Article
ISSN: 1059-5422

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Case study
Publication date: 16 August 2021

Mbanza Sichone and Charlene Lew

The learning outcomes are as follows: to demonstrate the phenomenon of strategic inertia in organizations and the impact this has on the type of renewal process that is…

Abstract

Learning outcomes

The learning outcomes are as follows: to demonstrate the phenomenon of strategic inertia in organizations and the impact this has on the type of renewal process that is undertaken; to differentiate between environmental and organizational adaptation strategies and synergies; to apply practical steps of renewal by outlining the influential forces and distinct stages of the process; and to create a practical framework that organizations can use as a guideline for sensing and reacting to changes in the business environment.

Case overview/synopsis

The case study examines the strategic renewal processes of Anglo American Platinum (Amplats) for the period 2012–2019. Amplats is the world’s largest producer of platinum group metals (PGMs). Despite the adversarial business environment of the South African PGM mining industry, six years into its new strategy, the organization had emerged debt-free and was poised to be sustainable. This posed a unique dilemma in strategic decision-making, namely, how to maintain a strategic renewal process. Chris Griffith, CEO of Amplats, was about to retire, but realized that the organization had yet to fulfil its potential. The ambition of the organization was to redefine the industry benchmark for performance across multiple pillars of value for different stakeholders, and to become the most valued mining company by 2023. Set in 2019, the case invites students to look back at the symptoms of strategic inertia at the time of Griffith’s appointment as CEO, and to define the nature and stages of the renewal that the organization underwent. This will provide insights that will enable an examination of the application of a framework for continual strategic renewal.

Complexity academic level

Postgraduate business students

Supplementary materials

Teaching Notes are available for educators only.

Subject code

CSS 11: Strategy

Details

Emerald Emerging Markets Case Studies, vol. 11 no. 3
Type: Case Study
ISSN: 2045-0621

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Book part
Publication date: 5 November 2016

Peter Altmann

This study investigates the role of functional area-specific managerial schemas on the attempt of strategic renewal at a large medical devices developer and manufacturer…

Abstract

This study investigates the role of functional area-specific managerial schemas on the attempt of strategic renewal at a large medical devices developer and manufacturer during a period of high environmental dynamism. Using data from a 16-month field study on managerial work related to the strategy process, I examine how functional area managers attempted to (re)configure organizational capabilities in response to various environmental challenges. While I did not find any disagreement between functional area managers related to what those challenges were, I did find fundamental disagreements related to what capabilities the organization can muster as a response. More specifically, disagreements surfaced in relation to how these capabilities should be assembled, and ultimately acted as triggers for the contestation of existing shared frames between functional area managers. These findings add to a growing body of evidence suggesting that there exist large differences between how managers within an organization interpret what the organization is capable of, and more specifically link these differences to the organization’s ability to adapt to environmental changes by showing how they impact the assembly of new capabilities deemed necessary for a successful response.

Details

Uncertainty and Strategic Decision Making
Type: Book
ISBN: 978-1-78635-170-8

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