Intrapreneurial corporate renewal

Continual corporate renewal is required for survival in the hypercompetitive global marketplace. Bureaucratic impediments, in combination with the lack of top management involvement and appropriate incentives, can destroy the entrepreneurial spirit that is latent in organizations and required for renewal. The methodology for corporation renewal is understood and can be introduced into almost any organization, provided top management is committed and tested methods are used. Strategies for corporate renewal include both internally generated developments and access to needed developments through "strategic alliances." Alliances can take the form of consortia formation, joint ventures, minor equity participation in start-up businesses, licensing arrangements, and mergers or acquisitions.