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

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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.

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Authors and Affiliations

  1. Chair of International Management, University of Liechtenstein, Fürst-Franz-Josef-Strasse, 9490, Vaduz, Liechtenstein

    Adrian Klammer & Stefan Gueldenberg

  2. Chair of Strategic Management and Entrepreneurship, University of Liechtenstein, Fürst-Franz-Josef-Strasse, 9490, Vaduz, Liechtenstein

    Sascha Kraus

  3. Kemmy Business School, University of Limerick, Limerick, V94 T9PX, Ireland

    Michele O’Dwyer

Authors
  1. Adrian Klammer
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  2. Stefan Gueldenberg
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  3. Sascha Kraus
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  4. Michele O’Dwyer
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Correspondence to Adrian Klammer.

Appendix

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Table 5 Constructs, subdimensions, items, and sources of the survey (Likert scale from 1 = fully disagree to 5 = fully agree)
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Klammer, A., Gueldenberg, S., Kraus, S. et al. To change or not to change–antecedents and outcomes of strategic renewal in SMEs. Int Entrep Manag J 13, 739–756 (2017). https://doi.org/10.1007/s11365-016-0420-9

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