Renewal in business leadership is about reinvigorating strategies, processes, or even entire business models. Leaders should consider renewal when:
Stagnation: If the business has plateaued in terms of growth or innovation, renewal is necessary to inject fresh ideas and energy. Market Changes: Significant shifts in the market or industry require a reevaluation of existing strategies to remain competitive. Employee Morale: High turnover or low morale can be a sign that the internal culture needs a revitalizing change.