Mintzberg's 5 Ps

Mintzberg's 5 Ps of strategy are five different ways to understand what "strategy" means for a business. "Plan" is a deliberate set of actions to achieve goals. "Ploy" involves tricks to outsmart competitors. "Pattern" refers to consistent behaviors over time. "Position" is how the company fits into the market or industry. "Perspective" reflects the company's unique way of thinking or culture. Together, these perspectives help leaders develop a comprehensive understanding of their strategic approach, ensuring they see both deliberate plans and evolving behaviors influencing success.