TY - JOUR
T1 - To change or not to change–antecedents and outcomes of strategic renewal in SMEs
AU - Klammer, Adrian
AU - Gueldenberg, Stefan
AU - Kraus, Sascha
AU - O’Dwyer, Michele
N1 - Publisher Copyright:
© 2016, Springer Science+Business Media New York.
PY - 2017/9/1
Y1 - 2017/9/1
N2 - Companies need to constantly renew themselves to remain competitive in rapidly changing market environments, regardless of their size or age. Even though strategic renewal is a crucial factor for sustainable success of organizations, it is only an emergent area in literature. This article examines potential antecedents of strategic renewal and impact on firm performance. Based on 104 companies’ responses to a structured questionnaire, the empirical findings demonstrate that strategic renewal positively impacts firm performance, and that entrepreneurial orientation and organizational learning are antecedents. From a practical managerial viewpoint, our results suggest that firms following a strategic renewal approach can increase the long-term success of their organizations: Firms that are entrepreneurially oriented and willing to learn can successfully manage strategic renewal.
AB - Companies need to constantly renew themselves to remain competitive in rapidly changing market environments, regardless of their size or age. Even though strategic renewal is a crucial factor for sustainable success of organizations, it is only an emergent area in literature. This article examines potential antecedents of strategic renewal and impact on firm performance. Based on 104 companies’ responses to a structured questionnaire, the empirical findings demonstrate that strategic renewal positively impacts firm performance, and that entrepreneurial orientation and organizational learning are antecedents. From a practical managerial viewpoint, our results suggest that firms following a strategic renewal approach can increase the long-term success of their organizations: Firms that are entrepreneurially oriented and willing to learn can successfully manage strategic renewal.
KW - Entrepreneurial orientation
KW - Learning orientation
KW - Organizational learning
KW - Strategic entrepreneurship
KW - Strategic renewal
UR - http://www.scopus.com/inward/record.url?scp=84994787761&partnerID=8YFLogxK
U2 - 10.1007/s11365-016-0420-9
DO - 10.1007/s11365-016-0420-9
M3 - Article
AN - SCOPUS:84994787761
SN - 1554-7191
VL - 13
SP - 739
EP - 756
JO - International Entrepreneurship and Management Journal
JF - International Entrepreneurship and Management Journal
IS - 3
ER -