Are strategic management and strategic planning synonymous terms? Explain in detail with examples. Explain in detail each stage of the strategic management process. Use example

DIRECTIONS: 

Carefully read each question. All questions should be answered with the minimum of two paragraphs (5-7 sentences each paragraph). Students should analyze each question using the terminology, principles, or theories from the chapter. Your answers must be in line with the textbook. Searching the internet for the solution will cause you to get the incorrect answer. Use the textbook to answer the main questions, and then support your answer with other resources.

Points will be deducted for incorrect grammar, punctuation, and if the question is answered with less than two paragraphs. Points will also be deducted if the question is not answered in its entirety. 

Remember, plagiarism is not accepted. If additional sources are used to answer the questions, the sources should be cited using APA format. 

Do not copy directly from the textbook, use outside information to support examples, and use your own words. Each answer should be thorough and indicative of a senior-level student.

CHAPTER 1

1. Are strategic management and strategic planning synonymous terms? Explain in detail with examples.

2. Explain in detail each stage of the strategic management process. Use examples to show additional understanding.

3. List three internal strengths and three internal weaknesses that characterizes SSU. Explain in detail, give examples and discuss how the strengths could be utilized to increase competitive advantage and how to fix the weaknesses.

CHAPTER 3

1.According to Michael Porter, what are the forces that together define the nature of competitiveness in a given industry. Discuss the one force that is usually the most powerful and detail another force of your choice. Use examples for all questions.

2. Explain in detail what is an external audit and all related properties of a thorough external audit.

3. Define Competitive Intelligence (CI) and explain the three ways that CI can be gathered.