This article talks in regards to the 5 definitions of strategy - as a Plan, Ploy, Pattern, Position and Perspective. It also covers how these interrelationships are considered in the strategic context.
In this article, Mintzberg takes on a very different view in regards to strategic management. His Five Ps for Strategy covers:
*Strategy as a Plan- It represents strategy as a consciously intended course of action,
*Strategy as a Ploy- As it deals with direct competition, it uses deliberate threats and feints to gain advantage over competitors,
*Strategy as a Pattern- This P encourages the recognition that strategies can emerge over time, as well as being deliberately planned and intended in advance,
*Strategy as a Position- This encourages us to look at how an organization is positioned relative to its competitors,
*Strategy as a Perspective- This definition is encouraging s to look inwards to how things are managed and operated within the organization.
This falls into place with what Hubbard and Thornton (2000) said "A Business Strategy is a comprehensive statement of the actions an organization intends to take to meet the objectives it has set to achieve its mission".
What then is the learning point of this article? In order for strategies to be effective, it has to encompass some critical factors and structural elements:
*Clear, decisive objectives,
*Maintaining the initiatives,
*Coordinated and Committed Leadership,
All these factors are intertwined with the Five Ps that are mentioned in the earlier part of this review. At the same time, another learning point about this article is that the Five Ps complements each other and that there is no single definition or method for strategizing. This article falls in line with what many other authors says about strategies. For example, Philip Selznick (1957:47) wrote about...