Strategic Renewal This is especially true when companies become static meaning

Strategic renewal this is especially true when

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in some cases, can cause the process to fail. Strategic Renewal This is especially true when companies become static, meaning that the company and its employees have become comfortable with the status quo and simply do not want to make any adjustments. When a situation becomes this dire, it is up to top management to create an environment of change that will not only complete the current needs for change, but will pave the way for potential future changes. This process is called strategic renewal. Strategic renewal is the ability to make changes within the organization quickly and efficiently with minimum stress to the employees. The idea of planning change through strategic renewal can be a difficult concept to grasp. Agarwal and Helfat define strategic renewal as changes in “process, content, and outcomes” that relate to the long-terms goals for a company (Agarwal & Helfat, 2009). This means that a company should be able to both identify and implement needed changes no matter how large or small they might be.
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Strategic renewal involves reviewing a company both internally and externally to look for determinates of change such as new opportunities or potential threats. These could include potential shifts in the competition, new technology or innovations, and even globalization. Today’s organization is driven not only by technology, but by the ability to change. There are many things that motivate or drive the need for change, such as competition, innovation, technology, legislative issues, and globalization (Spector, 2013). Each of these determinates of change push the organization to embrace strategic renewal, otherwise known as the ability to change. Strategic responsiveness to a dynamic external environment demands organizational change. For changes to work, leaders need to align internal processes, structures, content, and systems with the demands of the new strategy. To achieve desired growth, however, companies need to become effective leaders of change. Change Implementation
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Change implementation , sometimes referred to as change intervention, refers to any action taken by company leaders that supports strategic renewal. Change implementation can include both small and large changes that are taken to create or maintain a dynamic environment. Successful implementation will translate changes into an effective strategic response that forces change in the environment.
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