Abstract
Strategic renewal is one of the crucial processes for firms to stay competitive in the market. However, what is worryingly thin in the literature is the mechanism to achieve it. Grounded in the resource-based and dynamic capability theories, we explain how by deploying and redeploying resources, firm addresses market changes, thus, strategic renewal, and to achieve successful strategic renewal, we specify the necessity of a firm-specific capability. Hence, we propose a mediating mechanism of data analytics capability between resource mobilisation and strategic renewal relationship. We examine these assumptions by employing structural equation modelling on data from 261 ICT firms in Bangladesh. Our results evident that digitalisation-based capability, such as data analytics capability, is crucial in affixing resource mobilisation and strategic renewal. Resource mobilisation complements the knowledge repository of the firms; however, firm-specific capabilities are required to ensure the optimum utilisation of that acquired resource to address environmental volatilities.