Task 1- 500 words Demonstrate an understanding of the nature, scope and context of strategic management. 1.1: Define the concept of strategic management and discuss its importance in a selected organisation. 1.2: Provide the value and mission statements along with current business objectives of a selected organisation. 1.3: Compare the value and mission statements with current business objectives in order to check either it is profitable or not. 1.4: Differentiate between strategic planning of profit and not-for profit organisations with examples. 1.5: Develop appropriate goals, values and strategic objectives for a chosen organisation. Assessment Criteria 1.1: Explain the importance of strategic planning for an organisation. 1.2: Compare organisational value and mission statements with current business objectives of an organisation. 1.3: Devise and develop appropriate goals, values and strategic objectives for an organisation and consider the differences between profit and not for profit organisations approaches to strategic planning