Pan-Pacific Conference XXXIV. Designing New Business Models in Developing Economies

CONCLUSION AND DISCUSSION
The results show that the strategic formation process is
responsibility of senior management. In most cases, the
process of generating and approval of the strategy occurs
at the same time. Also, it is observed in most cases that
the responsibility to generate and approve a strategy rests
with the same person. The study reveals that Ecuadorian
large companies would similarly value their environment
and that they consider mainly the political and economic
aspects. Result revealed that companies would use, as a
tool for environmental valuation and strategy planning
the SWOT, separately or jointly with quantitative tools.
The study found three atypical cases in terms of the
generation of the strategy within the companies, which
correspond to what was explained in the literature by
Burgelman and Grove (2012), who considered strategy
generation as a process in charge of middle managers.
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