Human Capital Development and Strategic Renewal in Hospitality Industry of Khyber Pakhtunkhwa

Abstract

The current study examines the impact of human capital development (HCD) on strategic renewal (SR) of firms in hospitality industry of Khyber Pakhtunkhwa. In addition, the current study also examined the mediating role of ambidextrous learning (AL) and the moderating role of dynamic capabilities (DC) between HCD and SR relationship. Data were collected from 490 managers/owners of 3-stars and 4-stars hotels through questionnaires operating in the tourist destinations of Khyber Pakthunkhwa, Pakistan. Data analysis was performed through various statistical techniques which provides some interesting results. The results indicate that HCD is positively associated with SR. Moreover, AL bridges the association between HCD and SR. Furthermore, the results stated that DC has a strong contingent effect on the relationship between HCD and SR. The findings reveal that HCD in presence of AL plays a critical role in SR of the hospitality in Khyber Pakhtunkhwa.