Toward a Unified Theory of Internal Innovation and Strategic Renewal: Comment on Furr & Eggers and Miller

The problems related to strategic renewal and internal innovation are intimately linked. Over the past three decades, a vast literature on dynamic capabilities has shifted the attention of strategic management scholars to achieving a better understanding of how firms might command and redeploy internal resources to adapt and compete amid increasing market uncertainty (Helfat et al., 2007; Teece, 1996; Zander and Kogut, 1995). In other words, through asset reconfiguration, firms engage in internal innovation to create new products and business units in the effort to realign corporate resources with new strategic objectives (Agarwal and Helfat, 2009).

Under...