5 Ps in Strategy and Planning Samples †MyAssignmenthelp.com

Question: Discuss about the 5 Ps in Strategy and Planning. Answer: Introduction Strategy can be defined as an anticipated course of action to deal with any situation effectively. Strategy is used by different individuals in different ways. This paper will highlight the 5Ps of strategy discussed by Henry Mintberg. Moreover, examples will also be provided as to these 5Ps will help in the development of strategy. Strategy can also be referred to as a set of options which is necessary for a fixed plan. Each of the 5Ps is regarded as a different approach to strategy (Postma Zwart, 2015). 5 Ps in Strategy development Strategy as a Plan Strategy is a consciously and deliberately course of action. Some people apply these strategies in advance of the actions in which they apply. They also develop the strategies purposefully and consciously. It is important for all the leaders in an organization to follow a specific plan. It is regarded as an automatic approach which is adopted by all the leaders. In an organization and it involves definite planning as how to deliver them. For example, as I am the assistant manager of an organization, I need to handle a team of 50 members. To manage the members effectively, I need to make a certain plan and accordingly follow them. Strategy as a Pattern It is often seen that strategy emerges from the past behavior of an organization. It is a successful and consistent way of running the business rather than just being an intentional choice. For example, as I am the manager I need to take certain decisions which enhance a highly responsive customer support process. I also need to choose deliberately a process of strategic advantage. This will enhance the working capacity of the team and it will also help me to carry out my duties in a responsible manner (Jarzabkowski et al., 2016). Strategy about What There must be certain strategies for every work that is to be done. It is also important to follow the tactics which will help to achieve the strategies in a short span of time. Strategies vary because of individual differences. It is also regarded as the means of outsmarting the competition. For example, as I am the manager of the company, I will follow or adopt such a strategy which will benefit help the company for the development of its business. I will apply these strategies according to my own knowledge and capacity. There is another manager in the company who may not adopt my strategy and thus he/she might also not co-operate with my strategies (Buchko, 2015). Strategy as a Position Strategy helps to explore the organization and the environment and thus develop a competitive advantage. It is better to consider the organization in a greater perspective when thinking of any organization. For example, I need to check that the products of the company are distinctive and are provided at a low cost to the customers. Strategy as a Perspective Strategy is defined in terms of competitive personality and the culture which the company has adopted over time. The company is viewed in the eyes of themanagement as well as the employees according to this perspective. For example, I have adopted certain strategies which will benefit the employees in the long run and thus it will benefit the employees. I would like to describe myself as following the strategy for a particular pattern. It is useless to work if the strategy is followed without any plans and there is no definite goals which would be met if the strategy is followed (Yanney, 2014). Conclusion Thus, it can be said that the 5Ps as proposed by Mintzberg can be referred to as a plausible suggestion of strategy in different context. It is gaining competitive advantage over others and must be have a specific goal. It is therefore necessary to understand and use all the elements of 5Ps which will help in developing an achievable business strategy. References Buchko, A. A. (2015). Small Businesses as Captive Companies: Business Strategy and Firm Performance Among US Auto Suppliers.Journal of Small Business Strategy,3(1), 31-44. Jarzabkowski, P., Kaplan, S., Seidl, D., Whittington, R. (2016). On the risk of studying practices in isolation: Linking what, who, and how in strategy research.Strategic Organization,14(3), 248-259. Postma, T. J., Zwart, P. S. (2015). Strategic Research and Performance of SMEs'.Journal of small business strategy,12(2), 52-64. Yanney, J. P. (2014). Business Strategy and Leadership Style: Impact on Organizational Performance in the Manufacturing Sector in Ghana.management