CLASSMATE DISCUSSION 1
Finding out the customers’ needs and finding ways to satisfy those needs better than one’s competitors is strategy (Mintzberg, 2017).
Mintzenberg’s 5 P’s for Strategy is as follows:
Plan– Strategy is a plan or intended course of action, guidelines to handle a situation. The two essential characteristics of strategy is they are made in advance of the actions and they are purposefully developed.
Ploy– In the sense of a plan, strategy can be a ploy or a plan to outsmart competitors.
Pattern– Plans can be realized. Merely defining strategy as a plan is not enough, the plan has to move forward. Strategy as a pattern is a stream of actions and consistency in behavior. Plans may never be realized, but patterns are realized strategy. Education homework help
Position– Strategy is a position. It is a mediating force between organization and environment.
Perspective– Strategy refers to how leaders interpret the competition.
Business strategy is one of the top concerns of any organization. Business strategy is all the actions taken and decisions made for achieving a set goal. Knowing what business strategy is and how to execute it effectively can help businesses earn more than their competitors. Specifically, a business strategy is the core of any business. In the initial phase of business, planning is mandatory. As mentioned earlier, a plan may not be realized without taking certain steps to execute it. When leaders develop a strategy, it helps them to see that every aspect of the business is planned and it ensures leaders have control over the process.
Mintzberg, H. et al. (2002) The Strategy Process: Concepts, Context, CasesLinks to an external site.. 4th ed, Upper Saddle River: Prentice Hall.
Mintzberg, H. (2017). Crafting strategy. In The Aesthetic Turn in Management (pp. 477-486). Routledge. Education homework help
CLASSMATE DISCUSSION 2
What is strategy?
Prior to the readings, I tried to conceive of what my interpretation of strategy is so that I would have a comparison to what the authors report are the various interpretations over time. My initial definition of strategy was: Intentional thought focused on creating an identifiable change, recognizing the steps needed to reach the end goal. Implied but not specifically stated in this was that strategy exists in the mind, and the intended change may be either internal or external, and this may be done by an individual or by a group. In reading Chapter 1, I had added additional thoughts to the concept of strategy.
Strategy may be unintentional as well as intentional, or may lie in the conscious or subconscious parts of our brain. For instance, in learning a new sport, each new side-step taken or forward rush is done with the utmost of cerebral input and intention. The same is true when learning an instrument, or learning a brand new piece of music. However, with time and practice, the kinesthetic movements in relation to visual input become more automated and less consciously cognitive. Learning and adapting are still likely taking place, and in the elite athlete it is required, but the amount of conscious intention to the new footwork or finger positions significantly decreases. This realization would add the words “Unintentional or” prior to the original definition.
In being a part of the same academic institution for 20 years, the concept of strategy forming out of patterns of successful behavior rang true and was not a part of my original thoughts on strategy either. I have witnessed many new processes come about, based on the best knowledge at the time, and over time and continuous feedback, have become entrenched strategies in the work culture. Learning from nonsuccesses and then adapting or pivoting to create success will leave an imprint on an organization. If the leadership can recognize this imprint, make it explicit and celebrated, then best practices may be realized. This puts a more prescriptive lean to the strategy that started out as emergent, as well as taking into account the environment and culture schools of strategy thought. Education homework help
In the discussion of the various schools of thought related to strategy, there is a discussion about their applications in different industries. Even within a single organization, different units may use different types or definitions of strategies for the activities and goals of each. Clearly, my original definition was rather narrow, and there really is a great deal of complexity to strategy.
Mintzberg, H., Lampel, J., Ghoshal, S., & Quinn, J. B. (2014). Strategy Process: Concepts, Contexts, Cases (5th ed.). Philadelphia, PA: Trans-Atlantic Publications. Education homework help