Final answer:
Henry Mintzberg's five Ps of strategy are Perspective, Plan, Patterns, Positions, and Ploys, which form the basis of strategy development and business positioning.
Step-by-step explanation:
The five Ps of strategy offered by Henry Mintzberg include the following: Perspective, Plan, Patterns, Positions, Ploys. These five Ps serve as critical elements in the development and analysis of business strategies. Perspective refers to the way the organization views itself and its environment. Plan is about having a guideline for dealing with situations that can be predicted. Patterns emerge from past behavior and strategies. Positions refer to a firm's place in the market relative to its competitors, and Ploys are about the tactical maneuvers intended to outwit opponents or competitors.