The Impact of Strategic Renewal in Banking Industry Performance

In a dynamic environment, companies are required to adapt. The way for companies to stay competitive in industrial competition is to make strategies. Previous research has shown that strategic renewal can provide long-term success for corporate organizations (Agarwal & Helfat, 2009). Renewal enables companies to stay ahead of their competitors and gaining competitive advantage that leads to superior performance (Lieberman & Montgomery, 1988). In making strategic renewal, organizations need to develop learning orientations, ambidexterity competencies, sustainable innovation capabilities, and the presence of transformational leaders. The improvement of these four factors is expected to improve company performance, especially in a perfect market such as the banking industry. We tried to find the conclusion of the paper using the literature review method.