What do strategists have in their minds? The use of structural equation modeling to understand the strategy process

Abstract

This study is an attempt to understand how the dimensions of the strategy process (change, thinking and formation) are present in strategists’ minds. The methodology used is exploratory-descriptive. During the exploratory stage, we carried out desk research, which resulted in the development of a measurement tool for the strategy process. For the descriptive stage, we conducted a virtual survey of a sample of 109 executives of different companies. The data obtained were submitted to multivariate analysis (factor analysis and structural equations modeling). The factors that formed the studied dimensions were identified, confirming the existence of paradoxes in the strategy process. The dependence relations and the correlations observed were used as an input for the construction of a model for the strategy process.