Understanding the common vocabulary used in strategic management is important to the application of its concepts.

Required:

a. There are four general steps in conducting an external environmental analysis starting with scanning of the environment. Briefly, explain all four steps. 

b. Choose any organization of your choice and employ the “SWOT Matrix” to demonstrate the current strategic position of the organization and clearly indicate the strategy options available to help match that organization’s internal environmental elements against its external environmental elements. 

c. Compare on contrast the following

i. Vertical integration versus horizontal integration

ii. Divestiture versus Diversification

iii. Market development versus Product Development