A prerequisite for the successful determination and achievement of the most important and long-term business objectives is contained in the strategic management. This study primarily deals with concepts such as management, strategic management, their meaning and understanding as well as the process and strategic analysis of management. Organizations that want to survive and succeed on the market need a strategy because the strategy involves the ways in which they will achieve their plans. Strategic management helps in implementing the work plans and involves a long-term period. Nowadays, this fact has become even more important and the high-quality strategic management is crucial to the overall long-term success of the organizations. Strategic management explains the steps that managers take in order to develop strategic decisions. In addition to its long-term orientation, strategic management is an essential factor in the modern economy because of constant and rapid changes of our environment. Strategic management has to deal with the turbulent environment and provide answers due to changing circumstances. It directs organizations to look to the future and introduce changes , which in modern business becomes not only a precondition for development, but also something that the survival of the organization depends on.