Henry Mintzberg suggests there are five ways in which the term ‘strategy’ is used. These are called his ‘5Ps for Strategy’. Strategy can mean any of the following:
- Plan
- Ploy
- Pattern
- Position
- Perspective
Let’s look at these in a little more detail.
General
The 4 Components of a Strategic Plan
Section A of the ACCA P5 Advanced Performance Management syllabus deals with Strategic Planning and Control. In this article, we’re going to look at the main areas of a Strategic Plan.
Organisation Types – Cooperatives – ACCA F1 Exam
A co-operative is a business which is owned and run by its members, who are the people who benefit from its services. Co-operatives usually work for the benefit of its members and society in general.
Co-operative members:
- are usually involved in the running of its activities
- share in the profits and benefits of the organisation