Two ideal models of strategy development are identified: one rational stepwise; the other emergent, ex-post, relying on experimentation, where strategy is used to legitimise what has already been accomplished.
Key pointsCapabilities for both strategy development models may be acquired internally or externally, but with the emergent, ex-post model, core capabilities are acquired internally through experimentation. These outcomes lead to a richer resourcebased view of emergent strategy, and suggest a diverse range of strategic options. The findings suggest that firms might deliberately take an ambidextrous approach and seek a balance of planning and emergence in their strategy process.