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What are the 5 P's of Strategy according to Mintzberg?

1) Plan, Position, Perspective, Pattern, Ploy
2) Purpose, Plan, Position, Perspective, Ploy
3) Purpose, Position, Perspective, Pattern, Ploy
4) Purpose, Plan, Perspective, Pattern, Ploy

1 Answer

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Final answer:

The 5 P's of Strategy according to Henry Mintzberg are Plan, Position, Perspective, Pattern, and Ploy. They offer a framework for organizations to develop comprehensive strategies.

Step-by-step explanation:

The 5 P's of Strategy according to Henry Mintzberg are Plan, Position, Perspective, Pattern, and Ploy. These five components help organizations in shaping their strategies to navigate complex business environments and competitive landscapes.

Plan: A deliberate course of action a company intends to take.

Position: The place an organization chooses to occupy within the competitive market.

Perspective: The ingrained way of perceiving the world that influences strategy.

Pattern: The consistent behavior over time that emerges from a firm's actions.

Ploy: A specific maneuver intended to outwit an opponent or competitor.

These five aspects of strategy are intertwined and provide a multifaceted view of how strategies can be created and implemented.

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