Introduction to Strategic Management

The nature and value of strategic management is to achieve the desired results and outcome due to careful research (environmental scanning), planning and development of a company's strategy as well as the implementation and maintenance of it (Pearce & Robinson, 2013, p. 3). For this week's Assignment, you will complete a short answer on the following question:

? Why is strategy important to business?

? You will want to address the main components of the (three-tier process) of the strategic management process while discussing the importance of strategy for business. Be sure to use your reading this week as a resource. You are encouraged also to use the Library databases and the Internet as additional resources. For additional details on this Assignment view the Rubric below.

Reference: Pearce, J. A., & Robinson, R. B. (2013). Strategic management: Planning for domestic & global competition. (13th ed.). New York, NY: McGraw-Hill. ID: MT460-02-08-A Assignment Checklist:

? Explain the concept of the strategic management (three-tier) process.

? Discuss the importance of having a future oriented plan.

? Discuss the organization's vision, mission, purpose, philosophy or goal

? Discuss the strategic process as input for future decision making.

Format Your project should be double-spaced, citations should use APA style, and it should be 2-3 written pages in length, not including the formal title page and references page. For assistance with current APA format and citation style visit the Kaplan Writing Center. Directions for Submitting Your Assignment

• Before you submit your Assignment, you should save your work on your computer in a location and with a name that you will remember.

• Ensure your Assignment is in a Microsoft Office-compatible format (Word .doc or .docx). Submit your completed document to the Unit 1 Assignment Dropbox. Need help with the Dropbox? Click on the Dropbox Guide link under Academic Tools tab