The aim of this study was to analyze the strategic process and to propose a model that represents this process in small technology-based companies created without a business plan, which was very common in the beginning of a Brazilian Technopolis. Business strategy is an area of significant importance to management studies due the impacts of the strategic decisions to drive companies to success. In addition, the theory of strategy has been strongly formulated through studies on strategic actions in large and stable companies, which, when considered for application in small-sized companies, can lead to bias. A field study was carried out using the applied, descriptive and qualitative approaches in a multiple-case study with a sample of five small-sized companies and one medium-sized company. Allof the companies are technology-based companies from the São Carlos Technopolis, Brazil. The results revealed that the strategies are created in distinctive phases, which led to the development of four representative frameworks for the companies' evolutionary processes of strategy creation.
Strategy; Strategic planning; Entrepreneurship; Technology-based companies; Technopolis; Small business
