The rate of change in the external environment has triggered the emergence of new competitors and business models, which is pushing well-established firms to renew themselves. In this case-based course we draw on research to discuss how to enable the implementation of radical change and innovation in established firms. This includes strategies aiming for renewal, innovation and sustainability. Change and innovation can be particularly challenging in established firms due to legacy as well as structural and cultural inertia. Another well-known challenge has to do with balancing time and resources spent on delivering on current business with innovation and renewal. Through case discussions students gain hands-on practical experience of various aspects of organizing and managing the transformation process. Themes include: setting up structures and processes that enable change and innovation, understanding reactions to change and innovation, mobilizing support and managing stakeholders, orchestrating external partnerships, handling unforeseen events, and developing capacity for radical change and innovation.