Strategic Planning and Strategic Management, business and finance homework help

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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.

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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Strategic Planning and Strategic Management Grading Guide MGT/498 Version 4 Strategic Management Copyright Copyright © 2016 by University of Phoenix. All rights reserved. University of Phoenix® is a registered trademark of Apollo Group, Inc. in the United States and/or other countries. Microsoft®, Windows®, and Windows NT® are registered trademarks of Microsoft Corporation in the United States and/or other countries. All other company and product names are trademarks or registered trademarks of their respective companies. Use of these marks is not intended to imply endorsement, sponsorship, or affiliation. Edited in accordance with University of Phoenix® editorial standards and practices. Strategic Management Planning and Strategic Management Grading Guide MGT/498 Version 4 Individual Assignment: Strategic Planning and Strategic Management 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. Resources Required Textbook Chapters 1, 2 and 3 Week 1 Electronic Reserve Readings Week 1 Electronic Reserve Readings Video Grading Guide Content Met Partially Met Not Met Total Available Total Earned 4 #/4 Partially Met Not Met Comments: Student describes and defines the primary components of the Strategic Management Process. Student describes and defines internal and external analysis. Student describes and defines the responsibilities and duties of the Strategic Manager. Student explains why companies need strategic management planning. The paper is 700 words in length. Writing Guidelines The paper—including tables and graphs, headings, title page, and reference page—is consistent with APA formatting guidelines and meets course-level requirements. Met Comments: 2 Strategic Management Planning and Strategic Management Grading Guide MGT/498 Version 4 Writing Guidelines Met Partially Met Not Met Total Available Total Earned 1 #/1 5 #/5 Intellectual property is recognized with in-text citations and a reference page. Paragraph and sentence transitions are present, logical, and maintain the flow throughout the paper. Sentences are complete, clear, and concise. Rules of grammar and usage are followed including spelling and punctuation. Assignment Total Additional comments: # Comments: 3
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Explanation & Answer

Hello there, below is the completed assignment as per the requirements.
Kindly go through it and if there be anything that needs correction, I will be
glad to do it and if satisfied kindly review me. Thank you

Running Head: STRATEGIC PLANNING AND STRATEGIC MANAGEMENT

STRATEGIC PLANNING AND STRATEGIC MANAGEMENT

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Course:

Institution:

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STRATEGIC PLANNING AND MANAGEMENT

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STRATEGIC PLANNING AND MANAGEMENT


The primary components of the Strategic Management Process.

Strategic management describes a continuing process of managing an organization
strategic manner. This process entails a set of administrative decisions and activities that result in
articulating and executing strategies that define the performance and progress of the
organization. There are five primary constituents of a Strategic Management Process. These are;
Goal setting, Analysis, Strategy Formulation, Implementation of the strategy, Evaluation and
Control (Swayne, Duncan & Ginter, 2012). Goal setting is a phase of clarifying the business
vision. In this phase you identify the company objectives, how to accomplish the objectives
allocate tasks to staff for the accomplishment of the objectives. In the analysis stage, collect all
the relevant information necessary for the accomplishment of your vision. Here, examine all the
possible in...

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