As a strategy consultant you have been invited by the board of directors of a company based, within a well defined industry sector, to advise them on the possibility of changing the strategy of their company. In particular they are keen to redesign their strategy along the lines of the much publicised blue ocean strategy and also consider the possibility of developing a global strategyRequired:Task 1Carry out a full analysis of the industry or sector in which the company is currently operating. Drawing on relevant models and using appropriate company data, critically appraise its current strategy.Task 2Critically discuss the ways in which the company could shift its strategy from red ocean to blue ocean.Task 3Identify and discuss the key strategic challenges that the company should consider in developing a global strategy.