Five P s of Strategy
Five P’s of Strategy
Alicia Wiley
AH543 Healthcare Strategic Mgmt
January 25, 2015
Henry Mintzberg has proposed the concept of strategy by defining 5 Ps (Mintzberg, 1987). Each of the 5 Ps is a different approach to strategy. They are plan, ploy, pattern, position and perspective.
Plan Strategy is a plan or future course of action that is consciously intended to deal with the situation and acts as a guideline (Mintzberg, 1987). This means that any act done purposefully and carefully to deal with a situation that may exist or may arise. Planning is something that many managers are happy with, and it 's something that comes naturally to us (Mintzberg, 1987). As such, this is the default, automatic approach that we adopt – brainstorming options and planning how to deliver them (Manktelow, 2015). Planning is an essential part of the strategy formulation process. The problem with planning, however, is that it’s not enough on its own. This is where the other four Ps come into play.
Ploy Strategy is a ploy which means “a specific effort or course of action or maneuver intended to outwit an opponent or competitor (Mintzberg, 1987)”. In this case the actual strategy is the threat and not the expansion (Mintzberg, 1987). Mintzberg says that getting the better of competitors, by plotting to disrupt, dissuade, discourage, or otherwise influence them, can be part of a strategy (Manktelow, 2015). This is where strategy can be a ploy, as well as a plan. For example, a Wal-Mart store might threaten to expand, so that a competitor doesn’t move into the same area.
Pattern Strategy is a pattern as a stream of actions that has been deliberately intended or not intended and depict a consistency in the behavior (Mintzberg, 1987). This means that the pattern may be a result of deliberate planning which will be called as intended strategy or it may not be a result of planning which may occur in due course of time and is called emergent strategy (Mintzberg, 1987). Out of
Alicia Wiley
AH543 Healthcare Strategic Mgmt
January 25, 2015
Henry Mintzberg has proposed the concept of strategy by defining 5 Ps (Mintzberg, 1987). Each of the 5 Ps is a different approach to strategy. They are plan, ploy, pattern, position and perspective.
Plan Strategy is a plan or future course of action that is consciously intended to deal with the situation and acts as a guideline (Mintzberg, 1987). This means that any act done purposefully and carefully to deal with a situation that may exist or may arise. Planning is something that many managers are happy with, and it 's something that comes naturally to us (Mintzberg, 1987). As such, this is the default, automatic approach that we adopt – brainstorming options and planning how to deliver them (Manktelow, 2015). Planning is an essential part of the strategy formulation process. The problem with planning, however, is that it’s not enough on its own. This is where the other four Ps come into play.
Ploy Strategy is a ploy which means “a specific effort or course of action or maneuver intended to outwit an opponent or competitor (Mintzberg, 1987)”. In this case the actual strategy is the threat and not the expansion (Mintzberg, 1987). Mintzberg says that getting the better of competitors, by plotting to disrupt, dissuade, discourage, or otherwise influence them, can be part of a strategy (Manktelow, 2015). This is where strategy can be a ploy, as well as a plan. For example, a Wal-Mart store might threaten to expand, so that a competitor doesn’t move into the same area.
Pattern Strategy is a pattern as a stream of actions that has been deliberately intended or not intended and depict a consistency in the behavior (Mintzberg, 1987). This means that the pattern may be a result of deliberate planning which will be called as intended strategy or it may not be a result of planning which may occur in due course of time and is called emergent strategy (Mintzberg, 1987). Out of
References: Cummings M., Ottley G., Brewster R. (2015) Developing and Executing a Strategy While Confronting Conflicting Stakeholder Interests: A Case Study. Proceedings Of The European Conference On Management, Leadership & Governance [serial online]. January 2011;:71-79. Available from: Business Source Complete, Ipswich, MA. Accessed January 23, 2015. Thompson, A.A., Strickland, A.J. & Gamble, J.E. (2012). Crafting and Executing Strategy. Boston:McGraw-Hill Irwin.