Strategic Renewal as an Approach to Achieving Organizational Excellence: A Field Study in Iraqi Commercial Banks

The research was conducted to investigate strategic renewal as a means of attaining organizational excellence in commercial banks. The research problem was focused on determining the degree to which strategic renewal can help in attaining organizational excellence in banks. The population under study was the employees of the banks explored and a sample of (108) people was chosen. The study took the descriptive-analytical approach and the information was gathered using a questionnaire developed based on a five-point Likert scale. The analysis of the data was done in AMOS program. The findings revealed that strategic renewal and its three sub-dimensions (strategic exploration, strategic investment and entrepreneurial orientation) positively influence organizational excellence of commercial banks. Among the most crucial recommendations, the study proposes that the banks persist in the improvement of exploration and investment strategies at all levels, but primarily on the development of the investment of available opportunities to expand, to ensure sustainable organizational excellence, and enable the sampled banks to gain a competitive advantage that would allow them to excel and remain distinguished in the long term.