Learning Outcomes:CLO$1-$ Recognize the basic concepts and terminology used in Strategic Management.$$CLO$2-$Describe the different issues related to environmental scanning, strategy formulation, and strategy implementation in diversified organizations$$CLO$5-$Demonstrate how executive leadership is an important part of strategic management.$$Assignment Question$($s$)$: $(2\mathrm{.}5$ marks for each question$)1.$ Why is strategic management important for a corporation's competitive advantage?$2.$ How does strategic management typically evolve in a corporation? Give examplesNotes: $$Your answers MUST include at least four scholarly peer$-$reviewed references, using a proper referencing style $($APA$).$Mgt$401$ Strategic management