Final answer:
Strategic renewal and the pursuit of new venture opportunities are two primary aims of corporate entrepreneurship. Strategic renewal involves making significant changes to an organization's strategy to adapt to market conditions or improve performance, while pursuing new venture opportunities involves identifying and developing new business ideas or opportunities.
Step-by-step explanation:
The subject of this question is Business at a College level.
Strategic renewal refers to the process of making significant changes to an organization's strategy in order to adapt to changing market conditions or improve performance. This may involve restructuring the business, entering new markets, or developing new products or services.
Pursuing new venture opportunities refers to the process of identifying and developing new business ideas or opportunities. This may involve creating new products or services, entering new markets, or expanding into new areas of business.
Both strategic renewal and the pursuit of new venture opportunities are key aspects of corporate entrepreneurship, which refers to the entrepreneurial activities and mindset within an established organization.