Do you need this or any other assignment done for you from scratch?
We assure you a quality paper that is 100% free from plagiarism and AI.
You can choose either format of your choice ( Apa, Mla, Havard, Chicago, or any other)
NB: We do not resell your papers. Upon ordering, we do an original paper exclusively for you.
NB: All your data is kept safe from the public.
Mintzbergs 5 Ps The Otago Museum Strategic Plan
The Otago Museums strategic plan covers the organizations core values, as well as the priorities of its stakeholders. The plan reflects the collective work of the active community inside the institution. The work encompasses three main goals upholding the mana of the collection, community engagement for further curiosity and inspiration, and building on security and sustainability (Te Whare Taoka Otago, n.d.). Moreover, a set of key projects will be aimed at renovating and improving major sites at the Museum. A range of new experiences is to be set up to invite old and new visitors. Exciting exhibitions and novel research carried out about the exponents will guarantee the security of the stakeholder relationships.
The first part of Mintzbergs 5Ps is devoted to planning, an aspect particularly emphasized in the Otago strategic outline. In that way, the whole community completed the planning stage by brainstorming their core principles and ideas (WenJun, 2019). The P can be attributed to the strategy as the organizers highlighted the meaning of coming together to find solutions to common problems. Outlining the main areas that require improvement constitutes an essential part of the planning stage.
The second part of Mintzbergs 5P principle addresses ploy, a technique used to predict and dismay any competition. This method requires analyzing potential threats from other organizations and seeking the optimal ways of reducing the risks. Overall, the Otago strategic plan does not refer to any competitors or ways of limiting it. Instead, the staff is more attentive to the institutions challenges and ways of improving those. Therefore, Mintzbergs term is hardly relevant to this business strategy.
Pattern is the third element of Mintzbergs 5Ps and constitutes a developed set of decision-making and management skills. This principle is based on less planning and more experience working in a particular field. In this case, the authors of the Otago Museum plan have emphasized their previous experiences strategizing any ideas and proposals depending on the circumstances. An existing foundation of organizational and structuring concepts for the company eventually formed a pattern. Hence, the pattern element can be clearly traced in the overall functioning of the Otago Museum.
The fourth strategic aspect of Mintzbergs 5Ps explores the role of an organizations position in the competitive field as well as in terms of the external environment generally. If a company places itself strategically appropriately, there is a higher chance of it achieving its goals. The Otago Museum recognizes its own cultural and scientific significance without any mentioning of possible competition (Te Whare Taoka Otago, n.d). In that way, the institution positions itself in an authentic way that limits the possibility of a bad image or inconvenient competition.
Lastly, Mintzbergs final P explains the perspective through which an institution will make its decisions and prioritize certain solutions. Otago Museums cultural heritage will undoubtedly influence the set of goals put forward. For instance, since the organization comprises world-class exponents, the strategic plan encompasses the maintenance and enhancement of the works and community-based workshops to share the cultural significance presented (Te Whare Taoka Otago, n.d). Hence, perspective is one of the most important factors to consider regarding the Otago Museum and its goals.
The views expressed by Hubbard and Beamish (2011) are based on five questions related to business strategy. The first one focuses on the amount of growth and level of profitability an organization seeks (Hubbard & Beamish, 2011). The Otago Museum plans to invite international visitors as well as new local people (Te Whare Taoka Otago, n.d). Moreover, one of the goals follows promoting the company as a leader in tourism, events, and innovative experiences (Te Whare Taoka Otago, n.d., p.11). Hence, the organizations strategy involves extensive growth and the incorporation of globalization techniques.
Then, the types of products and services it plans to produce. Evidently, the Museum currently holds great numbers of various Dunedin and Otago species in different collections, but additional developments and educational services are to be added (Te Whare Taoka Otago, n.d). This question is closely associated with the core values that the stakeholders emphasized during their meetings. The third question explores what customer and geographic markets a company plans to service. As mentioned previously, the Museum employees highlighted international expansion as one of the top goals for the companys future. The association of Friends will serve as a method of inviting a targeted group of people to the exhibitions as well (Te Whare Taoka Otago, n.d). Therefore, the process of inviting new guests forms the business foundation of the Otago Museum.
The next point questions the generic strategy an organization plans to follow to position itself as unique compared to competitors. As stated previously, the organization does not view its own structure with regard to similar organizations, mainly due to its uniqueness and historical value. At the same time, by expanding its works to international partners and new services, the Museum ensures its security within the industry. Finally, the ultimate question regards the organizations desired industry position in the future (Hubbard & Beamish, 2011). The main goals of the Museum reflect its aims of securing sustainability and encouraging interest in the culturally significant exponents presented.
An alternative strategy to analyze the Museums plan is formulated by the alignment model. The framework is relevant for businesses that are in need of subtle enhancements and a proper following of the companys goals and objectives (Volk & Zerfass, 2018). The model includes four components based on strategy execution, technological and service potential, as well as service level (Volk & Zerfass, 2018). Otago Museum can be successful, based on its well-structured mission statement and inclusion of collectively formed problem solutions. At the same time, its technological potential can be improved to attract guests through social media platforms.
One ultimate definition of strategy cannot be highlighted as the conducted research suggests. There are various approaches to creating the optimal business plan for an organization depending on its field and objectives. The main variables that increase the number of possible definitions constitute the companys current state, desired outcomes, teamwork skills, policies prioritized, and budget. Moreover, media and associated PR activities are defining company elements. While a modern project may require additional IT involvement, the technology-oriented strategy may not be beneficial for other organizations (Kitsios & Kamariotou, 2021). In that way, the end goal of an organization will ultimately determine its necessary steps.
Furthermore, the definition of a business strategy explains its particular features. In that way, each model serves as a framework of objectives and goals that must guarantee financial stability and future prosperity (Breuer et al., 2018). As the success rate of a company is dependent on the various factors described, each management must focus on the business models that best fit their advantageous features. Evidently, the Otago Museum followed a strategy based on inclusivity and collective knowledge, with direct reference to its mission statement.
References
Breuer, H., Fichter, K., Lüdeke-Freund, F., & Tiemann, I. (2018). Sustainability-oriented business model development: Principles, criteria and tools. International Journal of Entrepreneurial Venturing, 10(2), 256-286.
Hubbard, G., & Beamish, P. (2011). Strategic Management: Thinking. Analysis, Action. Pearson Education Australia.
Kitsios, F., & Kamariotou, M. (2021). Artificial intelligence and business strategy towards digital transformation: A research agenda. Sustainability, 13(4), 2021. Web.
Te Whare Taoka Otago. (n.d.). Otago Museum Strategic Plan 2019-2024. Web.
Volk, S. C., & Zerfass, A. (2018). Alignment: Explicating a key concept in strategic communication. International Journal of Strategic Communication, 12(4), 433-451. Web.
WenJun, J. (2019). Reinterpretation of the strategic concept based on Mintzbergs strategic 5p model. The Frontiers of Society, Science and Technology, 1(6). Web.
Do you need this or any other assignment done for you from scratch?
We assure you a quality paper that is 100% free from plagiarism and AI.
You can choose either format of your choice ( Apa, Mla, Havard, Chicago, or any other)
NB: We do not resell your papers. Upon ordering, we do an original paper exclusively for you.
NB: All your data is kept safe from the public.