Revisiting Strategy and Performance Concepts in the Strategy Tripod Framework

The association between Strategy and Financial Performance is commonly used in scientific research. However, the dichotomy between deliberate and emergent strategies, although already discussed by several researchers, does not have a consensus in the literature. Also, the predominant practice in the academy investigates the financial perspective of performance and usually does not consider its plural aspects. Based on this reflection, this theoretical study discusses gaps in Peng's et al. (2009) strategy framework focusing on Strategy and Performance. As a result, we propose a review of the strategy framework, incorporating four strategic stages (deliberate, delibergent, emergent, and emergerate) and plural performance. We also propose methodological research that can be performed in business strategy.