Mb601 Strategic Management

Strategic Management and GovernanceDISCUSSION QUESTION 1-1MB601 Strategic ManagementLesson 1: Strategic Management and GovernanceDiscussion Question 1 (50 points)Discuss ten (10) strategies and their advantages in connection with the corporation’s goals and objectives as listed on page 14 of your text. (50 points) (A 2-page response is required.)Grading RubricPlease refer to the rubric below for the grading criteria for this assignment.Discussion Question 1 Discuss ten (10) strategies and their advantages in connection with the corporation’s goals and objectives as listed on page 14 of your text. IntroductionThe vast progress of today's technology and constant changes that keep taking place in the socio-political and economic environment presents real challenges to strategic business management. More than ever before, companies are facing tough competitions. They need to evolve and make necessary adjustments to secure a competitive advantage. Different theories have been drafted to account for how organizations obtain fit with their environment. This paper aims to discuss ten of these strategies and their advantages in connection with the corporation's goals and objectives.Environmental ScanningEnvironmental scanning is a fundamental element of strategic management planning. It is the process of monitoring and evaluating the external and internal factors that may affect a firm's development. The