The conceptual background lays the theoretical foundation that underpins the current understanding of strategic renewal, particularly in the knowledge-intensive and digitally driven context. This background connects established concepts—such as bounded rationality (March, 2006) and path dependence—with more contemporary frameworks emphasizing dominant logics, organizational identity, culture, and dynamic capabilities. Integrating these perspectives enables a comprehensive view of how both established and born-digital firms navigate the ever-present tension between preserving tried-and-tested routines and embracing new growth trajectories.