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4.0 Describe the corporation's strategic planning process, including how it identifies opportunities and threats and aligns them with internal capabilities. The strategic planning framework starts with environmental scanning, where the company observes and follows new trends within the industrial sectors and new technologies within the field to forecast upcoming changes in the market. This is succeeded by stakeholders' involvement whereby key customers, key partners and the personnel interact through polls and forums. Next, Cosworth uses strategic action known as scenario planning which can create more than one future and as a result, Cosworth is ready to adapt to different outcomes. This is further supported by SWOT and PESTEL methodologies which assist in evaluating the strengths and weaknesses of an organization and opportunities and threats in the environment (Gibbs, 2024). While developing strategies, Cosworth identifies the strategic plans that will, in turn, cover its vulnerability, exploit opportunities, and avert threats. These are well-coordinated strategies in terms of the mission and vision of the company, which helps bring unity in terms of strategic direction. Resource management is then facilitated, putting into consideration financial, human and technological resources in the context of the key strategies to be implemented. This process entails setting the standards and regularly revisiting the performance indicators to check on the degree of compliance and make corrections. These strategies are also incorporated to prevent and manage risks within Cosworth since the business faces an unstable market which requires appropriate measures to address (Gibbs, 2024)