Part A) Strategic Management1) Describe strategy and the strategic management process.2) Define comp

Part A) Strategic Management1) Describe strategy and the strategic management process.2) Define competitive advantage and describe the two approaches used to estimate a firm’s competitive advantages.3) Explain why it is important to understand a firm’s strategy.Part B) External Analysis1) Describe an external analysis.2) Analyze the two levels of the environment3) Identify and define the three elements of the S-C-P model.Part C) Internal Analysis1) Describe an internal analysis2) Explain resources and capabilites3) Describe the VRIO framework.Part D) Cost Leadership1) Differentiate between business strategies and corporate strategies and define the nature of a cost-leadership strategy.2) Identify six sources of cost advantages for firms.3) Identify the most appropriate organizational structure for a firm pursuing a cost-leadership strategy.