Abstract
This study examines the role of strategic renewal in the firm performance of Micro, Small, and Medium Enterprises (SMEs) in Tourism during Covid 19 in the context of Indonesia. Using Structural Equation Modeling, the findings highlight the importance of human capital and ambidextrous capabilities in creating resilience and improving firm performance through strategic renewal. We also find that organizational resiliencies do not always positively affect strategic renewals. We suspect that only a high degree of organizational resiliencies with innovative capabilities can orchestrate the strategic renewal. The innovative capabilities are mainly dependent on the quality of human capital. Therefore, SMEs in the tourism industry need to improve their human capital to achieve innovative capabilities to survive in crises and have a competitive advantage to keep up with the changes in the tourism industry
| Original language | English |
|---|---|
| Article number | 2 |
| Pages (from-to) | 37-48 |
| Number of pages | 12 |
| Journal | Journal of the Academy of Business and Emerging Markets |
| Publication status | Published - 18 Sept 2022 |
Keywords
- ambidexterity capabilities
- human capital
- organizational resilience
- renewal strategy
- organizational performance
