Strategic Planning and Strategic ManagementStrategic Planning and Strategic Management. PLEASE READ CONTENT CAREFULLY AND DO ALL PARTSMUST BE NEW AND ORIGINAL WORK NOT GIVEN TO OTHER STUDENTS.ÿWrite in a clear, concise, and organized manner; demonstrate ethical scholarship in the accurate representation and attribution of sources; and display accurate spelling, grammar, and punctuation. Include citations in the text and references at the end of the document in APA format.PLEASE READ INSTRUCTION CAREFULLY. IN TEXTÿCITATION AND MUST CITE ALL REFERENCE IN APA FORMATPurpose of AssignmentThe 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.ÿAssignment StepsÿWrite a 700-word analysis in which you complete the following:ÿDescribe 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.ÿCite 3 scholarly references, including at least two peer-reviewed references from the University Library.