Purpose of AssignmentA strategic management plan addresses four different management functions: environmental scanning, strategy formulation, strategy implementation, evaluation and control. Weeks 3, 4 and 5 individual assignments (Part 1, Part 2 and Part 3) are integrated to generate a strategic management plan. The purpose of the Week 3 individual assignment is to evaluate the internal and external environments of a company selected by the student, to analyze the competitive advantage of the selected company, to evaluate a set of suitable strategies, and to examine appropriate metrics.This assignment provides students an opportunity to research a selected company as if they were involved in a company\’s actual strategic management planning process. It allows students to see which management planning process and management plan the selected company is currently using, allowing them to measure the effectiveness of current strategies.A Strategic Management Plan addresses four different management functions: Environmental Scanning, Strategy Formulation, Strategy Implementation, Evaluation and Control.The Week 3, 4, and 5 Individual Assignments (Part 1, Part 2, and Part 3) are integrated to generate a Strategic Management Plan. This is Part 1 of the three part Strategic Management Plan.Assignment StepsWrite a 1,050-word report in which you select a company you are familiar with or a company where you currently work, and do the following:Evaluate the internal and external environments of your selected company using an environmental scan.Analyze the competitive advantage of your selected company.Evaluate the strategies your selected company uses to create value and gain competitive advantage.Examine the measurement guidelines your selected company uses to verify its strategic effectiveness.Evaluate the effectiveness of the measurement guidelines your selected company uses.Cite 3 scholarly references, including at least one peer-reviewed reference from the University Library.Format your paper consistent with APA guidelines.