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 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. No Plagiarism please

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

I expect you to use at least three separate scholarly resources. Three citations from a single source does not meet this requirement. For the purposes of this class, a “scholarly source” includes the class texts, eResource readings, and professional journal articles like those that you can find in the UOP online library databases (e.g. ProQuest, EBSCOhost, Emerald). I do not consider Wikipedia or an online dictionary to be a scholarly source.

For organization, I will check to see if you have written your paper in the standard style:

• A formal introduction that tells me the topics you will be addressing in the body of the paper
• The main body of the paper in which you address the assignment objectives that you list in the introduction.
• A formal conclusion that summarizes the major points made in the paper and brings the paper to a logical end.

Dyer, Godfrey, Jensen, and Bryce (2016) Strategic Management: Concepts and Cases, retrieved from: https://phoenix.vitalsource.com