6 Ps of Strategic Thinking

There are many overused words in business, but the strategy is just a way to get from where you are now to where you want to be. In the process of developing, implementing, monitoring, and reviewing your strategy, you can use the Six Ps framework to guide your thinking.

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Overview

Developing a successful business strategy involves all parts of the organization working together. As a result, sometimes the best-laid plans fail to achieve their potential due to oversights or failures to thoroughly explore an issue. As outlined in the Six Ps, every aspect of a business is interconnected, and deficiencies in one part can affect other parts.

A Six Ps framework will help keep the strategy focused on the most important issues, along with understanding what is happening, thinking creatively, developing solutions, monitoring progress, and thinking strategically.

In strategic thinking, there are six P's, as follows: Plan, Ploy, Pattern, Position, Perspective, and Process.

1. PLAN

Create a plan that gets you to where you want to go.

2. PLOY

Identify the tactics that will work best for you when dealing with competitors or others in your own company.

3. PATTERN

To identify potential customers and markets, for example, assess the patterns of behavior that are apparent.

4. POSITION

Make sure you know where your company fits in the market compared to your competitors.

5. PERSPECTIVE

Evaluate the company's current character and how it could be improved to better match its strategic goals.

6. PROCESS (a program of activities)

Establish a program of activities to achieve your goals, monitor them, and improve them.