Week 1 Individual Assignment: Strategic Planning and Strategic Management Paper

Purpose of AssignmentThis individual assignment is designed to help students with the following:Understand strategic business terminology (e.g., vision, strategy, goals, process, environmental scanning, objectives, measurement, and metrics).Recognize the difference between the strategic management process and strategic planning.Recognize the components of a strategic plan, and the steps to create one.Recommended ResourcesTextbook Chapters 1, 2 and 3Week 1 Electronic Reserve ReadingsThe Business Plan (video)Week 1 Course Supplements: Vision Alignment Model, and Input Factors of a SWOT AnalysisAppropriate and relevant business and academic WebsitesAssignment RequirementsWrite a 550- to 700-word paper that includes the following:Description of the four primary components of the strategic management process (i.e., environmental scanning, strategy formulation, strategy implementation, and strategy evaluation and control).Description of the responsibilities and duties of a strategic manager.Relevant overview of a company that you researched for this assignment (e.g., industry, age, size, scope, and market position).Description of how your selected company performs strategic planning.Format the paper according to 400-level APA standards. An abstract is not required, but the paper must include a Conclusion heading (other headings are recommended). The word count does not include the title and reference pages.