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Developing a Business Strategy - Explained

How to Develop a Business Strategy

Written by Jason Gordon

Updated at April 7th, 2022

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Table of Contents

How do Managers Develop or Formulate a Business Strategy?

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
mintzberg business strategy

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