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.  

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? 

Your essay should be two to three pages in length, double-spaced, and in 12    pt. Times New Roman font. The title and reference pages do not count towards   the  minimum page length. To complete this assignment, a minimum of two   reputable  sources must be used, cited, and referenced. At least one reference   must come  from the CSU Online Library. Use APA style   guidelines.