Strategy teams have received little attention in the strategic management literature. The goal of this article is to fill this theoretical and empirical gap by studying the practices of strategy teams. Drawing upon an in-depth longitudinal case study of a FTSE-100 multi-business firm and evidence from 36 interviews, this study points to the importance of both actions and interactions of corporate centre and business unit strategy teams during the strategy process. Our study also shows that acting and knowing of these teams is dynamic, collective and distributed within the multi-business firm across two interrelated levels: within the team and across teams, each involving both recursive and adaptive activities.Our article is divided into three parts. The first outlines the theoretical and methodological issues for studying the practice of strategy teams in multi-business firms. In the second, our empirical findings are reported. Finally, the third part presents our contributions and some implications for future research.
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