5ps of strategy

Mintzberg’s 5p for strategy: 

Mintzberg’s 5p for strategy Presented by: Philip Reji Atul mittal Arpit Sharma Shahnwaz Vikas

Strategy: 

Strategy A strategy is a long term plan of action designed to achieve a particular goal.

Mintzberg Approach: 

Mintzberg Approach Mintzberg in “The Rise and Fall of Strategic Planning ” wrote about the 5 Ps of Strategy. PLAN PLOY PATTERN POSITION PERSPECTIVE

Plan : 

Plan It is a set of consciously intended course of action, a guideline (or set of guidelines) to deal with a situation. By this definition strategies have two essential characteristics: 1) They are made in advance of the actions to which they apply 2) They are developed consciously and purposefully.

Ploy : 

Ploy Manipulative decisions which are intended to outwit an opponent or competitor It include plotting disrupt, dissuade, discourage, or otherwise influence them, This is where strategy can be a ploy, as well as a plan. For example, a telecommunications company might buy up patents that a competitor could potentially use to launch a rival product.

Pattern : 

Pattern Consistency in behavior, whether or not intended For example: a manager who makes decisions that further enhance an already highly responsive customer support process.

Position : 

Position How you decide to position yourself in the marketplace. In this way, strategy helps you explore the fit between your organization and your environment. Here we use PEST Analysis, Porter's Diamond, and Porter's Five Forces.

Perspective : 

Perspective A unique way of looking at the world, and interpreting information from it, judging its opportunities choices and acting. Perspective looks inward into the firm. Strategy is a perspective shared by members of an organization, through their intentions and/or by their actions.

PowerPoint Presentation: 

Honda entered US market with two variants one was 50 cc and the other included the larger machine. On entering the US market, Honda’s planned strategy was to compete with the larger European and US bikes of 250ccs and over. These bikes had a defined market, and sold through dedicated motorbike dealerships Disaster struck when Honda’s larger machines developed faults - they had not been designed for the hard wear and tear imposed by US motorcyclists. Honda had to recall the larger machines. Honda had made little effort to sell its small 50 cc motorbikes-its staff rode them around Los Angeles. Sports goods shops and ordinary bicycle and department stores had expressed an interest, but Honda did not want to confuse its image in its’ target’ market of men who bought the larger bikes. The faults in Honda’s larger machines meant that reluctantly, Honda had no alternative but to sell the small 50cc bikes just to raise money. The 50 cc bike proved very popular with people who would never have bought motorbikes before. Eventually the company adopted this new market with enthusiasm with the slogan: ‘You meet the nicest people on a Honda.’ The strategy had emerged, agents, managers conscious intentions, but they eventually responded to the new situation, By 1965, Honda had covered 63% of the US market. CASE:HONDA

PowerPoint Presentation: 

PLAN : The company identified and targeted an untapped market for small 50cc bikes in the US. PLOY : These bikes had a defined market, and sold through dedicated motorbike dealerships. Compete with the larger European and US bikes of 250ccs and over PATTERN : They proved very popular with people who would never have bought motorbikes before. POSITION : Company adopted a new slogan to present itself to the customers : ‘You meet the nicest people on a Honda.’ Did not want to confuse its image in its ‘target’ market of men who bought the larger bikes. PERSPECTIVE : The strategy had emerged, through agents, managers, conscious intentions, but they eventually responded to the new situation.