The Impact of Strategic Foresight in Strategic Renewal: Mediating Role of Talent Management Process "An Exploratory Study in Central Bank of Iraq"

Abstract

In recent years, strategic renewal has become an area of planning in contemporary management research, however, there are limited studies provide holistic approach to examine the preconditions of strategic renewal, which causes a profound lack of understanding regarding the drivers and influences, this paper seeks to develop a theoretically perspective on the active nature of the association among strategic foresight and strategic renewal of firm in Banking industry. Moreover, to understand the mediating role of talent management process, data were collected through questionnaires from 150 managers of different related administrative posts in Central Bank of Iraq. To analyze the data, hierarchical regression was used which provided very interesting results. This study indicates that strategic foresight positively impacts strategic renewal. Furthermore, talent management process positively mediates the relationship among strategic foresight and strategic renewal.