In the current context, companies must develop strategies to promote their competitiveness and adapt to new technological developments and the business environment. So the development of capacities to change, improve and create new value is increasingly important. Particularly capacities to undertake and innovate. The position taken in this document is that there is a common characteristic among all companies that could be reasonably described as entrepreneurial, this common characteristic is the presence of innovation. The main objective of this work is to determine a two-way link between corporate entrepreneurship and innovation and thus identify how both aspects can lead to each other and favor the generation of competitive advantages in companies. This work was carried out from an eclectic approach, where the methodology used to achieve this objective was a systematic review of the literature. Finally, the contributions of the work were: (I) a chronological analysis of the evolution of the concept of corporate entrepreneurship; (II) an analytical diagram of corporate entrepreneurship and its determinants, which has a pragmatic component for companies, which constitutes a point of reference for incorporating this strategy in business management; (III) identification of conditions to link corporate entrepreneurship and innovation management as directly correlated processes and (IV) reflection on the strategic development of competitive advantages in the company from innovation and entrepreneurship.