Description
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
Explanation & Answer
Hello,The attachment below is the answer,Thank you
RUNNING HEAD: Strategic Planning and Strategic Management
STRATEGIC PLANNING AND STRATEGIC MANAGEMENT:
STUDENT’S NAME:
COURSE TITLE:
UNIVERSITY AFFILIATION:
DATE:
1
Strategic Planning and Strategic Management
2
Strategic management process
Introduction
The Strategic management process incorporates the rules that the manager use to settle on
authoritative choices. The organization top level administration thinks deliberately first and after
that applies this all through the process. For the strategy to become operational for any
organization, it's very essential and good for every single individual to comprehend each
progression or the step of the process. This process of strategic management has five phases or
steps.
Goal – setting
This is the first stage and most essential phase of the strategic management process. It
involves setting the fundamental organization goals by identifying and defining short-term and
long-terms objectives, and then finally coming up with how these targets will be acknowledged
and dispensing of the assignment to ...
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