Developing a Business Strategy - Explained
How to Develop a Business Strategy
Written by Jason Gordon
Updated at April 12th, 2023
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How do Managers Develop or Formulate a Business Strategy?
The preeminent scholar in this regard is Henry Mintzberg. In 1998, Mintzberg proposed that the practice of strategic management observes three main perspectives (or ―streams).
Back to: STRATEGY & PLANNING
Within these streams there are a total of ten different schools of thought concerning how strategist perceive the creation of strategy.
The Prescriptive Perspective
- Prescriptive Design School
- Planning School
- Positioning School
The Describing Perspective
- Entrepreneurial School
- Cognitive School
- Learning School
- Power School
- Cultural School
- Environmental School
The Configuration Perspective
- Configuration School
Mintzberg further proposed the 5 Ps of Strategy to provide parameters for how managers define or see strategy. Mintzberg proposed that strategies can be seen as a:
• Plan
• Ploy
• Pattern
• Position
• Perspective
Mintzberg further broke down strategic formulation into 4 categories:
• Intended
• Deliberate
• Realized
• Emergent
Each category helps to bridge the understanding between how strategies is formulated and how it is ultimately carried out.
Related Topics
- How Strategies Arise
- Intended, Deliberate, Realized, and Emergent Strategies
- Management and Strategic Planning
- Mintzberg's Schools of Strategic Development
- Design School
- Planning School
- Positioning School
- Entrepreneurial School
- Cognitive School
- Learning School
- Power School
- Culture School
- Environmental School
- Configuration School
- Mintzberg's 5Ps of Strategy
- McKinseys 7s Model
- ***Industry Analysis to Build a Strategy***
- Strategic Analysis
- SWOT Analysis
- SPACE Analysis
- Situational Analysis - 7C
- Competition Profile Matrix
- Stakeholder Analysis
- Stakeholder Mapping
- Resources and Capabilities
- VMOST
- Core Competency
- VRIO Analysis
- Value Chain Analysis
- Internal Factor Analysis
- Value Creation Index
- Minimum Efficient Scale
- PEST(LE) Analysis
- Industry Lifecycle Analysis
- Company Lifecycle - Definition
- Porter's Five Forces
- Modes of Management
- External Factor Evaluation
- Business Performance Measurement
- Benchmarking
- Balanced Scorecard
- Economic Value Added
- Activity-Based Management
- Quality Management
- Action Profit Linkage Model
- Business Activity Monitoring
- Gap Analysis
- Strategy Diamond
- BCG Growth-Share Matrix
- GE McKinsey Matrix
- Value Reporting Framework
- Pyrrhic Victory
