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Answer in complete sentences, and be sure to use c

Answer in complete sentences, and be sure to use correct English,spelling and grammar. Sources must be cited in APA format. Your responseshould be four (4) double-spaced pages.Part A: Strategic ManagementPart A refers to the material in Lesson 1 of this course. Using logical, clear writing, do the following:Describe strategy and the strategic management process.Define competitive advantage and describe the two approaches used to estimate a firm’s competitive advantages.Explain why it is important to understand a firm’s strategy.Part B: External AnalysisPart B refers to the material in Lesson 2 of this course. Using logical, clear writing, do the following:Describe an external analysis.Analyze the two levels of the environment.Identify and define the three elements of the S-C-P model.Part C: Internal AnalysisPart C refers to the material in Lesson 3 of this course. Using logical, clear writing, do the following:Describe an internal analysis.Explain resources and capabilities.Describe the VRIO framework.Part D: Cost LeadershipPart D refers to the material in Lesson 4 of this course. Using logical, clear writing, do the following:Differentiate between business strategies and corporate strategies and define the nature of a cost-leadership strategy.Identify six sources of cost advantages for firms.Identify the most appropriate organizational structure for a firm pursuing a cost-leadership strategy.

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