Mintzberg's 5 Ps

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Mintzberg 's 5 Ps of Strategy Developing a Better Strategy What 's your approach to developing strategy? Many of us brainstorm opportunities, and then plan how we 'll take advantage of them. Unfortunately, while this type of approach is important, we need to think about much more than this if we want to be successful. After all, there 's no point in developing a strategy that ignores competitors ' reactions, or doesn 't consider the culture and capabilities of your organization. And it would be wasteful not to make full use of your company 's strengths - whether these are obvious or not. Management expert, Henry Mintzberg, argued that it 's really hard to get strategy right. To help us think about it in more depth, he developed his…show more content…
For example, your strategy might include developing a niche product to avoid competition, or choosing to position yourself amongst a variety of competitors, while looking for ways to differentiate your services. When you think about your strategic position, it helps to understand your organization 's "bigger picture" in relation to external factors. To do this, use PEST Analysis, Porter 's Diamond, and Porter 's Five Forces to analyze your environment - these tools will show where you have a strong position, and where you may have issues. As with "Strategy as a Pattern," Core Competence Analysis, USP Analysis, andVRIO Analysis can help you craft a successful competitive position. You can also use SWOT Analysis to identify what you do well, and to uncover opportunities. Note: There can be a lot of overlap between "Strategy as Position" and other elements of the 5 Ps. For instance, you can also achieve a desired position through planning, and by using a ploy. Don 't worry about these overlaps - just get as much value as you can from the different approaches. 5. Strategy as Perspective The choices an organization makes about its strategy rely heavily on its culture – just as patterns of behavior can emerge as strategy, patterns of thinking will shape an organization 's perspective, and the things that it is able to do
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