Task 1What is strategy?Strategy is the long-term plan of an organization, which achieves advantage in a dynamic environment through to the full utilization of available resources and skills in order to achieve the objectives of an organization.Theories related to strategic planningStrategic planning is a management tool intended to support goals and objectives and to make decisions by allocating resources resources. It further helps in spotting the strengths, weaknesses, opportunities and threats of the business. Business strategies are formulated in a way to meet the changing needs of the organization in order to face a competitive environment. Depending on the unique characteristics of each business and, above all, the desired results, business strategies are of different types. Likewise, business strategies also depend on the structure and function of an organization. A strategic influence planning process involves defining the organization's strategies, its long-term goals and objectives, and allocating resources in order to achieve an organization's ultimate goal. Before developing the strategies of an organization, one must know the current position of an organization. The current position of an organization shows where we are currently and what kind of strategies we need to formulate to gain competitive advantages in the future. Various tools such as PEST analysis, situation analysis and scenario planning are very useful in formulating the strategies of an organization. Situation Analysis Situation analysis is a forecasting tool used by an ideal manager to forecast the internal and external environment of an organization in order to gain competitive advantages. with in a changing environment. This allows for identification of the external audience and fewer restrictions from government and consumer protectionists. To recap, companies that integrate ethics into their business strategy will ultimately experience business success through their long-term commitment to their consumers, and even their business environment. Reference https://www.lotsofessays.com/signup.html http://en.wikipedia.org/wiki/Strategic_planning http://www.missouridevelopment.org/Business %20Solutions/Innovation%20and%20Business%20Development/Business %20Development.html http://en.wikipedia.org/wiki/Feasibility_study http://www.tutor2u.net/business/strategy/competitive_advantage.htm http://en.wikipedia.org/wiki/Kentucky_fried_chicken http:/ /murasakibara-murasakibara.blogspot.com/2009/08/background-kfc-corporation.html Tony Proctor 1997. Establishing Strategic Direction: A Review. Management decision. 35/2 [1997] 143–154