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To change or not to change–antecedents and outcomes of strategic renewal in SMEs

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  • Adrian Klammer

    (University of Liechtenstein)

  • Stefan Gueldenberg

    (University of Liechtenstein)

  • Sascha Kraus

    (University of Liechtenstein)

  • Michele O’Dwyer

    (University of Limerick)

Abstract

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.

Suggested Citation

  • Adrian Klammer & Stefan Gueldenberg & Sascha Kraus & Michele O’Dwyer, 2017. "To change or not to change–antecedents and outcomes of strategic renewal in SMEs," International Entrepreneurship and Management Journal, Springer, vol. 13(3), pages 739-756, September.
    • Handle: RePEc:spr:intemj:v:13:y:2017:i:3:d:10.1007_s11365-016-0420-9
    DOI: 10.1007/s11365-016-0420-9
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    Cited by:

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    4. Anand, Amitabh & Singh, Sanjay Kumar & Bowen, Melanie & Rangarajan, Deva, 2024. "Strategic renewal during crises - A pragmatist proposition for multinational enterprises in a globalized world," Journal of International Management, Elsevier, vol. 30(3).
    5. Maran, Thomas K. & Liegl, Simon & Davila, Andrés & Moder, Sebastian & Kraus, Sascha & Mahto, Raj V., 2022. "Who fits into the digital workplace? Mapping digital self-efficacy and agility onto psychological traits," Technological Forecasting and Social Change, Elsevier, vol. 175(C).
    6. Shih-Kai Lin & Hung-Chang Chung, 2023. "The Relationship Between Entrepreneurial Orientation and Firm Performance From the perspective of MASEM: The Mediation Effect of Market Orientation and the Moderated Mediation Effect of Environmental ," SAGE Open, , vol. 13(4), pages 21582440231, December.
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