An 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.
Assignment Steps
Write a 800-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. Please no plagiarism
Solution Preview
Strategic Planning and Strategic Management
Strategic planning process refers to an organized or a systematic way of carrying out calculated planning within the company through preliminary assessment, analysis, policy formulation, its execution and evaluation (Jurevicius, 2013). On the other hand, strategic management process refers to the methods through which managers visualize of and apply a strategy which can establish a maintainable competitive advantage for the organization. (Jurevicius, 2013).
(889 words)