13 Aug Consider your Strategic Plan Part II: External and Internal

Consider your Strategic Plan Part II: External and Internal Assessment assignment. Describe a few key sources of information used for locating vital internal information. What is the value internal assessment tools have on formulating strategies?Below is an explanation of what Part II is…Attached is the topic I chose.Part 2: External and Internal Assessment (Topic 3)An environmental scan seeks to ensure your original pitch is viable (Part 1: Overview). External and internal assessment tools are utilized your to ensure strategic initiative is viable. You may find after completing your environmental scan your strategic initiative idea will change. The environmental scan helps you develop Key Performance Indicators (KPIs), which will help focus the application of limited resources to produce above-average returns. During your scan, address the following:Internal: Identify your strategic initiative using various internal assessment tools to evaluate your organization’s strengths and weaknesses in functional areas of business which include ManagementMarketingFinanceAccountingProductions/operationsResearch and developmentManagement information systemsExternal: Identify your strategic initiative using various external assessment tools to evaluate outside trends and events outside the control of the organization, and the industry.