A Conceptual Discussion of the Strategy Process in Organizations: Formulation and Formation of Strategy<Br>Http://Dx.Doi.Org/10.5585/Riae.V10i1.1711

This article aims to address the strategy process within organizations, in light of the terminologies of strategic formulation and formation. The purpose is to elucidate the understanding of persistently used terms, occasionally causing a lack of interpretation of what is actually exposed about the strategy process, i.e., the variations between adopting i) classic strategies, which call for different stages of formulation and implementation, and ii) emerging strategies, or those having a procedural nature, performed in response to environmental changes. The present article also targets clarifying the characteristics of each approach through the theoretical construct of authors. This research is characterized as a descriptive study, predominantly qualitative and where the collected data were obtained through a literature review. Through analysis of the most prominent authors on strategy, it was found that the differences between strategic formulation and formation are not limited to the used terminology. Said approaches have significant differences within the entire strategy process, differing mainly in how they occur within organizations: in strategic formulation, there is a prescriptive, deliberate and rational process, whereas in strategic formation, emphasis on description exists, and the strategy is an emergent, unintentional process, consolidated by a series of patterns of decisions over time. Finally, perceiving the distinction between the two approaches is considered fundamental for the understanding of strategy in organizations, especially in regard to variables potentially influencing its process.