Strategic renewal: Can it be done profitably?

Nguyen, Khoa; Peltoniemi, Mirva; Lamberg, Juha‐Antti

doi:10.1016/j.lrp.2021.102179

Cited by 9 publications

(3 citation statements)

References 106 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…As Volberda et al (2001b) point out, balancing exploration and exploitation remains pivotal for financial service firms negotiating the industry dynamics specific to their national contexts. Therefore, through proactive and adaptive strategic renewal, businesses are not merely reacting to trends but also shaping future industry trajectories (Nguyen et al , 2022; Rojas et al , 2022).…”

Section: Organizing Framework For Learning-driven Strategic Renewalmentioning

confidence: 99%

“…Failing to upgrade or adapt competencies to break path dependence could devastate business operations (Floyd and Lane, 2000; Schmitt et al , 2018). In contrast, firms that pursue strategic renewal demonstrate high sustainability while ensuring long-term performance (Nguyen et al , 2022; Volberda et al , 2001a). Research into strategic renewal has generally emphasized how the firm may change its trajectory to continue to respond to changes in both the internal and external environment (Klammer et al , 2017).…”

Section: Introductionmentioning

confidence: 99%

See 1 more Smart Citation

Learning-driven strategic renewal: systematic literature review

Maharani,

Sukoco,

Usman

et al. 2023

MRR

View full text Add to dashboard Cite

Purpose 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. Design/methodology/approach 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. Findings 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. Research limitations/implications 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. Originality/value 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.

show abstract

Section: Organizing Framework For Learning-driven Strategic Renewalmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Learning-driven strategic renewal: systematic literature review

Maharani,

Sukoco,

Usman

et al. 2023

MRR

View full text Add to dashboard Cite

show abstract

“…It also serves as a valuable instrument for diversification and innovation, bolstering international expansion (Otomo et al, 2023;Dai et al, 2012). Through mergers and acquisitions, organisations not only have the capacity to adjust their scale but also gain the ability to harness new technologies previously beyond their reach (Nguyen et al, 2021). Established organisations frequently resort to mergers and acquisitions to chart their expansion, swiftly extending their product offerings, customer portfolios, and resource base (Woo, 2020).…”

Section: Theoretical Backgroundmentioning

confidence: 99%

International Expansion Strategy in Fast-Growing Businesses: Using Bayesian Networks to Identify Influencing Factors

Aparecido da Silva,

Florêncio da Costa Júnior,

Galdino de Araújo

2023

IJBM

View full text Add to dashboard Cite

The article aims to identify the key factors influencing strategic decisions regarding international expansion amongst rapidly growing digital businesses in Amsterdam, Berlin, London, New York, and Paris; whilst uncovering prominent trends that can provide guidance to investors and managers engaged in the internationalization process. The data used for this study was gathered from business networking events held between 2016 and 2020, with a specific focus on the short-term strategic growth options pursued by these companies. To analyse the data, the authors employed Bayesian Network modelling, comprising two components: 'International Expansion' as the primary factor (parent node) and 'Factors of Interest' as the secondary factor (child node). The findings indicate that companies based in Amsterdam, New York, and Paris are primarily influenced by 'Exits' and 'Acquisitions' when making decisions about international expansion. In contrast, businesses in Berlin, London, New York, and Paris lean towards alternative venture capital options such as 'Debt,' 'Venture Debt,' and 'Private Equity.' The results suggest that companies in London and Berlin possess mature business models, significantly impacting their ability to attract investments and expand internationally. Moreover, this research not only demonstrates the applicability of Bayesian Networks in analysing strategic choices but also provides valuable insights into how these choices influence a company's internationalization strategy, offering practical guidance to investors and managers. Finally, the study highlights the existence of distinct intentions for international expansion amongst CEOs and founders in the regions under investigation, indicating the need for further research to comprehend these unique idiosyncrasies.

show abstract

Strategic orientation, strategic renewal, and the international performance of born global firms

et al. 2023

View full text Add to dashboard Cite

The international business environment is both dynamic and turbulent. Accordingly, a new venture’s strategic orientation (SO) and ability to undertake strategic renewal (SR) are of great importance to its survival, growth and international performance. Building on the dynamic capability perspective, we explore how SR capability mediates the relationship between SO and the performance of mature born global firms (BGFs). In particular, we examine the direct and indirect interplay between the SO of BGFs and their performance outcomes. We use a sample of 195 export-oriented BGFs, derived from the Bangladeshi apparel industry. We use a hierarchical regression analysis technique to test the direct effects. The mediation effect is examined using three statistical tests – Baron and Kenney’s (1986) causal steps approach, the Sobel test, and the Hayes indirect effect with bootstrapping method – to ensure the validity and reliability of our findings. The results reveal a positive association between SO and the performance of BGFs, and that this relationship is mediated by the firms’ SR capability. We contribute to a greater understanding of the drivers of mature BGFs’ international performance by demonstrating a direct link between their SO and SR capability, which in turn affects their performance outcomes.

show abstract

Strategic renewal: Can it be done profitably?

Cited by 9 publications

References 106 publications

Learning-driven strategic renewal: systematic literature review

Learning-driven strategic renewal: systematic literature review

International Expansion Strategy in Fast-Growing Businesses: Using Bayesian Networks to Identify Influencing Factors

Strategic orientation, strategic renewal, and the international performance of born global firms

Contact Info

Product

Resources

About