Essay

Resource: Strategic Planning and Strategic Management Grading Guide

Refer to the following Week 1 – Required Learning Activities:

  • Strategic Management: Concepts and Cases, Ch. 1: What is Business Strategy?
  • Strategic Management: Concepts and Cases, Ch. 2: Analysis of the External Environment: Opportunities and Threats
  • Strategic Management: Concepts and Cases, Ch. 3: Internal Analysis: Strengths, Weaknesses, and Competitive Advantage

Purpose of Assignment

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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.

Assignment Steps

Write a 700-word analysis in which you complete the following:

  • Describe and define the primary components of the Strategic Management Process.
  • Describe and define internal and external analysis.
  • Describe and define the responsibilities and duties of the Strategic Manager.
  • Explain why companies need strategic management planning.

Cite 3 scholarly references, including at least two peer-reviewed references from the University Library.

Format your paper consistent with APA guidelines.

 
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