Strategy, according to Henry Mintzberg (1998) has five different faces:
- Strategy as plan – a directed course of action to achieve an intended set of goals; similar to the strategic planning concept
- Strategy as pattern – a consistent pattern of past behavior, with a strategy realized over time rather than planned or intended. Where the realized pattern was different from the intent, he referred to the strategy as emergent
- Strategy as position – locating brands, products, or companies within the market, based on the conceptual framework of consumers or other stakeholders; a strategy determined primarily by factors outside the firm
- Strategy as ploy – a specific maneuver intended to outwit a competitor and
- Strategy as perspective – executing strategy based on a "theory of the business" or natural extension of the mindset or ideological perspective of the organization.