The relationship between two educational improvement initiatives--school restructuring and systemic curriculum reform--is examined in this bulletin. School restructuring tends to focus on process in schools and curriculum reform concentrates more directly on content and curriculum across a range of schools. The main features, their promises and limitations, of each initiative are discussed. A conclusion is that systemic curriculum reform can offer restructured schools a high quality curriculum, while school restructuring provides a process for building the teaching/learning environment capable of supporting such a curriculum in diverse school communities. Policy makers must reach a consensus about educational content and the delivery of resources necessary for substantial change. Equity is also a concern for both policy and practice because of the promise and perils of high standards for an increasingly diverse student population. (6 endnotes) (LMI)