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Explain why companies need strategic management planning.

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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