Strategic Renewal in Legacy Organizations

Authors

  • Muhammad Faizan Iqbal School of Business Administration, National University of Modern Languages, Islamabad, Pakistan.
  • Sarah Mahmood Department of Strategy and Innovation, Lahore School of Economics, Lahore, Pakistan.

Keywords:

Strategic Renewal, Legacy Organizations, Innovation, Organizational Change

Abstract

Strategic renewal is crucial for legacy organizations seeking to maintain competitiveness in a constantly evolving market. With rapid technological advancements, shifting consumer preferences, and increasing global competition, many established firms face the risk of obsolescence if they fail to adapt. This paper explores the concept of strategic renewal, focusing on how legacy organizations can reinvent themselves through innovation, leadership, and organizational change. The study highlights various models of strategic renewal, offers practical examples from Pakistan’s banking and manufacturing sectors, and discusses the challenges organizations encounter when implementing renewal strategies. The paper also provides insights into how legacy organizations can align their past strengths with new strategic initiatives to stay relevant and thrive in the future.

References

Tushman, M. L., & O'Reilly, C. A. (1996). Ambidextrous Organizations: Managing Evolutionary and Revolutionary Change. California Management Review, 38(4), 8-30.

Christensen, C. M., & Raynor, M. E. (2003). The Innovator's Solution: Creating and Sustaining Successful Growth. Harvard Business School Press.

Helfat, C. E., & Peteraf, M. A. (2003). The Dynamic Resource-Based View: Capability Lifecycles. Strategic Management Journal, 24(10), 997-1010.

Leonard-Barton, D. (1992). The Factory as a Learning Laboratory. Sloan Management Review, 34(1), 23-38.

Hannan, M. T., & Freeman, J. (1984). Structural Inertia and Organizational Change. American Sociological Review, 49(2), 149-164.

McGrath, R. G. (2013). Discovery-Driven Growth: A Breakthrough Process to Reduce Risk and Seize Opportunity. Harvard Business Press.

Eisenhardt, K. M., & Martin, J. A. (2000). Dynamic Capabilities: What Are They? Strategic Management Journal, 21(10/11), 1105-1121.

Teece, D. J. (2007). Explicating Dynamic Capabilities: The Nature and Microfoundations of (Sustainable) Enterprise Performance. Strategic Management Journal, 28(13), 1319-1350.

Zahra, S. A., & Pearce, J. A. (1990). Research on Corporate Strategy and Strategic Management. Strategic Management Journal, 11(1), 65-76.

Quinn, J. B. (1985). Strategic Change: A Perspective on Organizational Renewal. Research in Organizational Behavior, 7, 233-285.

Prahalad, C. K., & Hamel, G. (1990). The Core Competence of the Corporation. Harvard Business Review, 68(3), 79-91.

Tushman, M. L., & Anderson, P. (1986). Technological Discontinuities and Organizational Environments. Administrative Science Quarterly, 31(3), 439-465.

Daft, R. L. (2007). Organization Theory and Design (9th ed.). Thomson South-Western.

Birkinshaw, J., & Gibson, C. (2004). Building Ambidexterity into an Organization. Sloan Management Review, 45(4), 47-55.

Hamel, G., & Välikangas, L. (2003). The Quest for Resilience. Harvard Business Review, 81(9), 52-63.

Kotter, J. P. (1996). Leading Change. Harvard Business Review Press.

Awan, S., & Hussain, M. (2021). Managing Strategic Renewal in Legacy Organizations: Insights from Pakistan’s Banking Sector. Pakistan Business Review, 29(2), 85-101.

Burns, T., & Stalker, G. M. (1961). The Management of Innovation. Tavistock.

Kotter, J. P. (2008). A Sense of Urgency. Harvard Business Press.

Brown, S. L., & Eisenhardt, K. M. (1997). The Art of Continuous Change: Linking Complexity Theory and Time-Paced Evolution in Relentlessly Shifting Organizations. Administrative Science Quarterly, 42(1), 1-34.

Irk, E. (2026). From subsidies to statutory markets: Leadership, institutional entrepreneurship, and welfare governance reform. https://doi.org/10.52152/s59sjh53

Ahmad, N. R. (2025). AI-enabled public governance in developing states: Service delivery gains, accountability risks, and a practical risk-based regulatory model. https://doi.org/10.52152/wja5db40

Ahmad, N. R. (2025). Exploring the impact of inflation on Pakistani society: Challenges, causes, and long-term consequences for economic stability and social well-being. https://doi.org/10.63075/7vtnh777

Ahmad, N. R. (2025). Business ethics in the age of automation: How companies can balance profitability with responsibility. Punjab Model Bazaars Management Company.

Downloads

Published

2025-11-23

Issue

Vol. 2 No. 02 (2025): International Journal of Modern Research in Management

Section

Articles

License

Copyright (c) 2025 Muhammad Faizan Iqbal, Sarah Mahmood

Creative Commons License

This work is licensed under a Creative Commons Attribution 4.0 International License.

All articles in the International Journal of Modern Research in Management are licensed under CC BY 4.0. Users can share, adapt, and use the content commercially, provided proper credit is given to the authors and the journal, with no additional restrictions.