Abstract

This paper introduces the Strategic Management Review Special Issue on Corporate Renewal. Following Hofer and Schendel (1978), we define corporate renewal as a type of strategic renewal that is concerned with the processes and outcomes of changes in the scope and resource deployments among a firm's businesses. We introduce a three-part framework for corporate renewal that highlights the choice among various modes of corporate renewal, the different actors who can implement corporate renewal, and the processes that are involved in the execution of corporate renewal. We draw upon this organizing framework to categorize the essays contained in this volume and to outline potential directions for future research on corporate renewal.