Research Paper (undergraduate) from the year 2010 in the subject Business economics - Business Management, Corporate Governance, grade: 1, 0, University of Applied Sciences Bremerhaven, course: Organisational Behaviour & Change Management, language: English, abstract: People change, organisations change, whole industries change. This fact can be clearly observed in all aspects of human life. Only a few weeks ago the author communicated with an employee of Thomas Cook, one of the largest tour operators of the world, and expressed his bewilderment about the absence of the destinations Australia and New Zealand in the new catalogue of the product management department he used to work at. The answer simply was that another department would now be responsible for these destinations. Actually these were not the only news. The team has been relocated to another floor, has been merged with another team, and by the way has a new boss. Moreover, only days ago the author read the news from a relaunch of Air Marin as no-frills tour operating brand of Thomas Cook. This brand did already exist until 2003 and was then abolished to strengthen the Thomas Cook brand Neckermann Preisknüller. These are only small changes within a large company, but they tell the tale of a larger process taking place behind the scenes, a process of change, of strategic renewal. But what is strategic renewal and why are so many companies are involved in change processes despite the estimation that about 70% of all renewal processes do fail.