Due Dates are not a part of Personalized Learning and do not affect this assignment.Assignment 3.1: Strategic Project and Organization ManagementAs one of the most significant global icons of in-home rental, retail movies and game entertainment in the mid-1980s, Blockbuster is a great profile what is important in business, and how lack of strategy, management, and obsolescence in planning for change can affect the success and growth of an organization. Read the case study and then use what you have learned about strategic management and best practices to synthesize the real problem. Some would argue it was their inability to change with the times. Analyze the Blockbuster case study below and summarize your perspective about where they went wrong and how strategic planning and management might have prevented their demise. Summarize your perspective and analysis of the case study.A Blockbuster Failure: How an Outdated Business Model Destroyed a Giant from Davis, T. and Higgins, J. (2013), Chapter 11 Bankruptcy Case Studies, University of Tennessee, Research and Creative Exchange http://trace.tennessee.edu/utk_studlawbankruptcy/11Blockbuster Videos Inc, Failure Case Study from Devika, A., Challa, P., Sirasala, R., Ghanta, S., and Gorrepati, V.(2016) Enterprises ArchitectureDeliverable: A 400-word paper that includes at least one APA-formatted reference to material from this lesson.Activity DetailsPerform the following steps:Step 1: Analyze the strategic management strategyExplore how Blockbuster applied strategic planning processes to define their space, vision, and purpose in the market. How might the principles of strategic planning you learned from this lesson turn their obstacles into advantages? Begin your analysis with the resources provided, and then extend your research.Step 2: Identify best practices and strategic positioningFor your final analysis, make at least 3 recommendations that the organization would have to consider, regarding the strategic planning and critical decisions for growth, innovation, and expansion into the entertainment market. Highlight those practices, theories or principles that you see as key success drivers. Highlight the common strategy or aspects of these processes that demonstrate and show effective practices and successful strategy implementation. Support your analysis. Step 3: Apply strategic management practices. Analyze the strategic management and/or planning practices in the organization that made them successful and those that created turn-around change in their success, profitability, and ultimate failure. Think if this company were still in business, what strategies might effectively support their mission and vision in the organization. How would this strategic planning, decisions or practices be different today in our technology-driven world? Summarize your perspective with supporting resources.Use these writing guidelines:  · Include a cover page and references in addition to your required word count.  · Use correct APA format  · Double-space text  · Use size 12 Times New Roman  · Use section headings to organize  · Indent paragraphs  · Include in-text citations  · Use correct spelling, grammar, sentence structure and verb tense