Describe the different issues related to environmental scanning, strategy formulation, and strategy implementation in diversified organizations.

1. Describe the different issues related to environmental scanning, strategy formulation, and strategy implementation in diversified organizations. 6.2. ReadingRequiredChapter 6.  Strategy Formation: Situation Analysis and Business StrategyTextbook: Wheelen, T. L., Hunger, D., Hoffman, A. N., & Bamford, C. E. (2014). Concepts in strategic management and business policy (14th ed.). Upper Saddle River, NJ: Prentice Hall. ISBN-13: 9780133126129 (print), 9780133126433 (e-text)RecommendedMintzberg, H. (1978). Patterns in Strategy Formulation. Management Science, 24(9), 934-948. 6.3. Test your knowledge (Max 100 words for every question)Question 1What is the relevance of the resource-based view of the firm to strategic management in a global environment?Question 2How can value-chain analysis help identify a company’s strengths and weaknesses?