Mintzberg’s Concept of 5 Ps
Evaluate the contribution of Mintzberg’s concept of 5 Ps for strategic thinking, illustrating your answer with appropriate examples.
Mintzberg (1989) has suggested the 10 different schools of thought for strategy. In the 10 schools of thoughts, they are categorized into two major approaches to strategy; one is the Prescriptive approach while another is the Descriptive approach. The Prescriptive approach focusses on the formulation of strategy in intended manner while the Descriptive approach views strategy on the basis which they were form, one of the ways is to analyse an emerging pattern based upon the intended strategies.
In order to define strategy in detail, Mintzberg (1987a) state that strategies have to be defined in different ways as to achieve full comprehension of its implications. Therefore, the 5 Ps were presented as definitions of strategy in Mintzberg’s point of view. Each of the 5 Ps comprising aspects concerning strategy.
According to Mintzberg, the 5 Ps are Plan, Ploy, Pattern, Position and Perspective. Mintzberg stated that none of the Ps “take precedence over the others and could be inter relatable and complement each other”. To view strategy as a Plan refers to how strategies are often intended to be, or the formation of strategy. In Mintzberg’s own words, Plan is “a consciously intended course of action”. Ploy, can be recognized a sub-plan of a strategy. Ploy can originate from the initial plan. A ploy refers to a tactic conducted by an organization to outwit its competitors. Strategy as a pattern is based on the result of the company’s Plan and Ploy put together. A pattern emerges as a result of realized strategies. To view strategy as a pattern means understanding the external environment of which an organization is placed in. Strategy as a pattern allows the management to analyse the market of which the organization is in or chooses to be in. Porter’s Five Forces Analysis is a common tool to seek understanding of the business environment
Mintzberg (1989) has suggested the 10 different schools of thought for strategy. In the 10 schools of thoughts, they are categorized into two major approaches to strategy; one is the Prescriptive approach while another is the Descriptive approach. The Prescriptive approach focusses on the formulation of strategy in intended manner while the Descriptive approach views strategy on the basis which they were form, one of the ways is to analyse an emerging pattern based upon the intended strategies.
In order to define strategy in detail, Mintzberg (1987a) state that strategies have to be defined in different ways as to achieve full comprehension of its implications. Therefore, the 5 Ps were presented as definitions of strategy in Mintzberg’s point of view. Each of the 5 Ps comprising aspects concerning strategy.
According to Mintzberg, the 5 Ps are Plan, Ploy, Pattern, Position and Perspective. Mintzberg stated that none of the Ps “take precedence over the others and could be inter relatable and complement each other”. To view strategy as a Plan refers to how strategies are often intended to be, or the formation of strategy. In Mintzberg’s own words, Plan is “a consciously intended course of action”. Ploy, can be recognized a sub-plan of a strategy. Ploy can originate from the initial plan. A ploy refers to a tactic conducted by an organization to outwit its competitors. Strategy as a pattern is based on the result of the company’s Plan and Ploy put together. A pattern emerges as a result of realized strategies. To view strategy as a pattern means understanding the external environment of which an organization is placed in. Strategy as a pattern allows the management to analyse the market of which the organization is in or chooses to be in. Porter’s Five Forces Analysis is a common tool to seek understanding of the business environment