Abstract

The purpose of this research is to propose a strategic renewal model for the banking industry grounded in an entrepreneurial orientation. Methodologically, the present study adopts a mixed methods design, integrating both qualitative and quantitative approaches. In the qualitative phase, thematic analysis based on Sterling's framework was employed. Data were collected through in-depth interviews with domain experts, and the findings from this stage informed the development of an emergent theoretical framework. The statistical population comprised banking experts, selected through sampling. Accordingly, fourteen seasoned experts, senior managers, and specialists with distinguished practical experience and academic credentials were identified as the research sample. Sampling within each phase continued until theoretical saturation was achieved. Data analysis was conducted using thematic analysis. The findings revealed four principal factors constituting the strategic renewal model with an entrepreneurial approach in the banking sector. The first factor pertains to the exploration of innovation strategy dimensions, encompassing the subcomponents of initiatives, organizational readiness, and transformation in the attributes and structural configurations of banks. The second factor involves the development of innovation antecedents, comprising subcomponents such as organizational structure, interactions and communications, organizational intellectual and human capital, environmental factors, organizational capabilities and competencies, organizational management practices, and internal organizational factors. The third factor relates to the innovation process, incorporating subcomponents including transparency of actions, knowledge enhancement and awareness acquisition, operational implementation steps, and delineation of the dimensions of the strategic renewal project. The fourth factor concerns the outcomes of innovation development, consisting of non-financial consequences and financial consequences.