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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.

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.

This paper aims to systematically review and synthesize existing research on learning-driven strategic renewal and examines the findings to elucidate the dimensions, antecedents, mechanisms and consequences associated with learning-driven strategic renewal, thereby addressing gaps in the existing literature.

This research covers learning-driven strategic renewal from 1992 to 2022, using hybrid snowball sampling techniques and Boolean searches on the Scopus and Web of Science databases to extract 49 papers.

This review proposes an organizing framework for learning-driven strategic renewal, building upon existing literature. The framework identifies various dimensions of the process, including antecedents, mechanisms and consequences. The antecedents are categorized into individual, organizational and external factors. The mechanisms for learning-driven strategic renewal were explored within the context of Crossan’s established 4I framework, which serves as a lens for emphasizing the balance between exploratory and exploitative learning. Within this framework, intuiting, interpreting, integrating and institutionalizing are the four “Is” that guide the renewal process. These mechanisms require a robust system to enforce the prescribed processes effectively, thereby contributing to long-term firm performance and sustainability.

Despite using search terms similar to those in existing literature on strategic renewal, the scope and depth of this study may be limited. Further research may benefit from bibliometric screening or more refined inclusion criteria.

While there has been extensive research into both organizational learning and strategic renewal, no coherent framework links them. This study fills this gap by building a framework that identifies connections between these two concepts, providing valuable insights that may be used to foster successful strategic renewal efforts. The review offers valuable knowledge and understanding of the subject matter, serving as useful guidance for effectively driving renewal initiatives within organizations.

Recent studies have indicated that digital transformation can benefit an organization’s strategic renewal. However, there is little knowledge on how business executives engage in digital transformation for this purpose, especially in the service sectors of emerging markets. Therefore, this study aims to examine how business managers accomplish strategic renewal through digital transformation in emerging markets.

The authors conducted a longitudinal single case study of a leading business firm in China’s real estate industry, China Overseas Land & Investment Ltd. (COLI). Results of the analysis of semistructured interviews and rich secondary data allowed us to better understand how business managers react to changing customer demands by building and implementing divergent digital tools to fulfill strategic renewal.

The results showed that business executives of COLI developed the Whole Life Cycle Management System, to achieve strategic renewal. The system benefits resource allocation and potential adjustments to strategic goals. This study also helps update the organizational structure of the marketing and consumer services departments, helping better satisfy consumers’ demands and waste fewer resources. Thus, COLI accomplished structural, contextual and leadership-based ambidexterity.

This study provides a fresh understanding of the link between digitalization and strategic renewal by providing a fine-grained analysis of leading service providers in emerging markets. To the best of the authors’ knowledge, this study is among the first to investigate the role of digital transformation in strategic renewal from an ambidexterity perspective.

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 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.

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.

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.

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.

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.

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.

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.

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

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.

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

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

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

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.