Journal
1. In today's economic environment, which of the five steps in the strategic planning process do you think is the most important? Give an example of an industry where this would be the most important step. Do you think that a different industry might place more emphasis on another step in the strategic planning process?
Why?
Your journal entry must be at least 200 words. No references or citations are necessary.
Essay Assignment
The company chosen was Toyota Motor Corporation
2. For this essay, you will conduct research on corporate strategies and the affect they have on the decision process. Use the same company you chose in Unit II. As you explore the decision process, consider how corporate strategies influence these decisions. In your essay, address the following questions:
1. What is a functional strategy?
2. What are stability strategies in business? What are the pros and cons of these strategies?
3. What are competitive and cooperative strategies?
4. What are the tradeoffs (pros and cons) between an internal and an external growth strategy? Which approach is best as an international strategy? Why? What about retrenchment?
Format your assignment according to the following formatting requirements:
1. The answer should be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
2. The response also includes a cover page containing the title of the assignment, the student's name, the course title, and the date. The cover page is not included in the required page length.
3. Also include a reference page. The Citations and references should follow APA format. The reference page is not included in the required page length.