Assignment: Strategic Planning And Strategic Management
Referto the following Week 1 - Required Learning Activities:
o Strategic Management: Concepts and Cases, Ch. 1: What is Business Strategy?
o Strategic Management: Concepts and Cases, Ch. 2: Analysis of the External Environment: Opportunities and Threats
o Strategic Management: Concepts and Cases, Ch. 3: Internal Analysis: Strengths, Weaknesses, and Competitive Advantage
Purpose of Assignment
The purpose of this assignment is to help students understand strategic business terminology (vision, mission, goals, objectives, specific objectives, internal and external scanning), to recognize the components of a strategic plan and to be familiar with the core information and steps needed to create a strategic plan. Furthermore, this assignment allows students to recognize the difference between strategic planning and strategic management.
Write a 700-word analysis in which you complete the following:
o Describe and define the primary components of the Strategic Management Process.
o Describe and define internal and external analysis.
o Describe and define the responsibilities and duties of the Strategic Manager.
o Explain why companies need strategic management planning.
Format your assignment according to the following formatting requirements:
1. The answer should be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
2. The response also includes a cover page containing the title of the assignment, the student's name, the course title, and the date. The cover page is not included in the required page length.
3. Also include a reference page. The Citations and references should follow APA format. The reference page is not included in the required page length.