Strategic renewal: Can it be done profitably?
研究了全球纸浆和造纸行业208家大型企业的战略更新，发现只有少数企业能通过主动更新实现盈利，强调了战略更新过程与执行的重要性。
Industry transformation requires strategic renewal at the level of individual firms. Executives then face the dilemma of choosing renewal paths in the face of uncertainty over the competitive environment of the future, and hence the profitability of potential strategies. This dilemma motivates us to study industry transformation from the perspective of strategic renewal among 208 large firms in the global pulp and paper industry. The findings of our qualitative comparative analysis show that only a minority of firms in our sample succeeded in profitable proactive renewal. Content-wise, there were similarities in the pursued strategies over the wider population, but only a few maintained superior profitability while proactively renewing. Our results, overall, highlight the importance of understanding the processual nature and execution of strategic renewal.