Mintzbergs 5 ps of strategy includes five different approaches to strategy. Its useful to employ the 5 ps throughout the planning process. We might note a similar problem with policy, a word whose usage is terrible confused. Henry mintzbergs 5 ps for strategy henry mintzberg is an internationally acclaimed academician and author on business and management. Mintzbergs 5 ps of strategy for successful strategic planning.
They stand for plan, pattern, position, perspective and ploy. Strategy is an extremely complicated and dynamic thing. The magic number sevenplus or minus a couple of managers academy of management learning and education executive june, 2005. In the military, the word has traditionally served one notch in the hierarchy above strategy, in business one notch below, and in public administration in general as a substitute. Henry mintzberg, in his 1994 book, the rise and fall of strategic planning 3, points out that. The core idea of the mintzberg model is your strategy is more robust if youve defined it taking multifaceted approach, rather than focusing on one factor. This strategic framework is known as mintzbergs 5 ps of strategy. He is currently the cleghorn professor of management studies in montreal, canada where he is been teaching since 1968. A strategy is defined as a method or a plan chosen to bring about a desired output. Defining strategic management and strategy 2012 book archive. Each of the 5 ps is a different approach to strategy. To help us think about it in more depth, he developed his 5 ps of strategy five different definitions of or approaches to developing strategy. Mintzbergs 5 ps of strategy free management ebooks. These five components allow an organisation to implement a more.
A great strategy one day could be useless the next, depending on market forces and changes that are outside of your control. Great businesses are always adapting, and that means changing strategy frequently to meet with your needs. Mintzberg recognized that strategy is difficult to get right. Further reproduction prohibited without permission. It includes ploys to beat the competition, a pattern to follow, and a position to. They provide relevant information necessary in the initial stages of strategy development. Of course, the mintzberg 5 p s of strategy are part of an organisations strategy, but its also wise to look at the 5 p s as separate standpoints that all need to be considered for developing a strong and successful strategy. In this suretobecontroversial book, leading management thinker henry mintzberg turns his attention to reframing the management and organization of health care. To capture this complexity, professor henry mintzberg of mcgill university in montreal, canada, articulated what he labeled as the 5 ps of strategy.
Strategy is a plan some sort of consciously intended course of. Henry mintzberg of mcgill university developed the 5 ps of strategy model in 1987. Developing theory about the development of theory, oxford handbook of management theory michael hitt and ken smith, editors, 2005 asked to write about how i developed theory, i ended up doing that about how i was doing that in this paper download. This strategic framework is known as mintzberg s 5 ps of strategy. Mintzberg first wrote about the 5 ps of strategy in 1987. Mintzbergs 5 ps of strategy strategy training from epm. These 5 ps are not mutually exclusive, quite the contrary they complement each other. Mintzberg 5p strategy 5 ps van strategie strategische tool. And even if you do get it right, your strategy could be rendered obsolete overnight by a competitor. Henry mintzbergs 5ps model is a grand plan for devising a competitive strategy. Henry mintzberg onderscheidt in het artikel five ps for strategy 1987 vijf visies op strategie.