Please help. I need a reply to my classmate post Here is the topic: The “5 P’s o
ID: 348216 • Letter: P
Question
Please help. I need a reply to my classmate post
Here is the topic:
The “5 P’s of Strategy” capture the complexity of defining Strategic Management. Select ONE of the “5 P’s” – (1) explain why you selected that particular concept, i.e., why do you believe it is important to the overall strategic management process and (2) explain whether that particular concepts requires more of a perspective of art or science from the strategic leaders point of view.
Clearly explain your position; offer supporting rationale for your explanation and be sure to reference your statements using proper APA formatting.
Here is what they post:
Learning Activity #2
The “5 P’s of Strategy” capture the complexity of defining Strategic Management. Select ONE of the “5 P’s” – (1) explain why you selected that particular concept, i.e., why do you believe it is important to the overall strategic management process and (2) explain whether that particular concepts requires more of a perspective of art or science from the strategic leaders point of view.
Clearly explain your position; offer supporting rationale for your explanation and be sure to reference your statements using proper APA formatting.
Obviously all 5 “P’s” are important and all five are needed or are essential to the overall understanding of strategy. Each has aspects that make them vital on their own, but the 5 together make strategic management work for businesses. Planning is the most important in my opinion because I believe that the other 4 parts would not be able to happen if a logical plan is not in place. There are ways that the other’s might come first, but I believe that no matter what the ploy is or the pattern, a businesses’ position or perspective, a plan must be put into action to allow the others to work (Strategic Management, 2014). Plans are put in place so the company has a map to follow, but sometimes outside influences change the directions and a company must be able to adapt to those. So a plan is very important, but a plan that is not set in stone is more important. It is like directions to get to a destination and there is an accident on the way, do you just stay on the road that is closed until the accident is cleared or do you try to find another way to your destination. Here in Germany you can sit in a “stau” or traffic jam for hours or you can adapt and find another way, like planning, which needs to be fluid to be successful, but I wholeheartedly believe that a solid plan must come first.
The first paragraph of Chapter 1 in our both states, “Mastering strategy is therefore part art and part science” (Strategic Management, 2014). Planning should incorporate both sides of this question and be part art and part science, but the first side to choose from should be science. To develop a solid plan, in the initial stages, you do not need to reinvent the wheel, especially if you have plans that worked from other companies that you can use as a guideline. When changes happen and the intended strategy is no longer valid or in need of minor tweaks, and maybe the emergent strategy begins, then I believe the art aspect comes into play more so than the science part and the reason behind that is you need to be able to come up with new ideas and changes and be more creative to get things to work on the fly.
Explanation / Answer
I partially agree to what my friend has to say here and I also consider planning to be an integral part of the strategy because the other factors depends a lot on the planning aspect. Based on the planning aspect the other factors are directed in the strategy which may work out for the better of the organization. But if the organization is not aware of its position in the industry then it is difficult to plan for the organization in order to formulate the strategy, I believe that evaluating the position is equally important as planning because the knowledge of the position is mandatory while planning strategy for the organization or else planning may not turn out to be effective.