Strategy and the 5Ps
Henry Mintzberg is a Canadian-born academic who researched into and subsequently wrote books on strategy, management, organisations and their relationship.
Mintzberg developed the 5Ps of strategy, rejecting a single deﬁnition of strategy, and providing five different perspectives of a strategy, which when combined is seen to provide a sturdier and more robust end product, reflecting the overall content of a strategy.
The 5Ps, with their explanations, are as follows:
(Adapted from Mintzberg 1987)
|Plan||The course of action that is to be followed taking a company from where it is now to where it wants to be; developed in advance and with a purpose.|
|Ploy||Ploys are specific tactics employed to remain ahead of competitors; seen as short-term in nature and a strategy solely aimed at beating competitors.|
|Pattern||Considers what behaviour has worked before and then deciding whether to continue and/or improve.|
|Position||Identifies where a company is relative to its competitors.|
|Perspective||Influences the personality and culture of the organisation, sharing it within and beyond the organisation usually through its vision and values, along with the blueprint to realise that vision.|
Strategies can be time-consuming and expensive to develop, deliver, implement, monitor and improve. They are therefore most often seen at large multinational corporations.
Although strategies are often internal documents to a company, the company’s values, mission, culture, aims and objectives are not.
Compare the public face of these two well-known global organisations and state which approach you prefer and why.
If, in the course of researching and investigating this task, you find a more preferred approach, post it to the discussion board and provide the source of the information.
You can further your understanding by watching the video ‘Mintzberg’s 5Ps’.
This is an additional video, hosted on YouTube.
Please note that this video contains no speech, it contains visual information only.
Mintzberg, H. (1987) ‘The Strategy Concept I: Five Ps for Strategy’. California Management Review 30 (1), 11-24
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