Abstract
The study shows that a rather irregular balance rhythm between exploitation and exploration renewal surprisingly enhances firm performance. A curvilinear relationship emerges as performance peaks when the shift frequency of renewal occurs about three times. This relationship optimizes the strategic renewal processes, emphasizing that firms need to remain agile and adaptable in today’s dynamic market environment. This study analyzes annual reports of 127 Indonesian manufacturing firms from 2014 to 2019, applying both linear and curvilinear regression models to examine the hypotheses.
Original language | English |
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Pages (from-to) | 1-50 |
Journal | Journal of Asia Business Studies |
Publication status | Published - 10 Sept 2024 |
Keywords
- Strategic renewal
- Innovation
- Exploitation/exploration
- Rhythm
- Frequency
- Balancing
- Indonesia