Constant changes in the market also cause changes in the business strategies of organizations. In addition to digitalization, which has greatly contributed to market change, it is essential for organizations to change business strategies frequently. Whether it is a new product or service or a well-established business, it is important to have a realistic picture of your own organization at all times. Before choosing a strategy, it is necessary to have a mission, vision and goals that will help in choosing a strategy. In addition to well-arranged goals, external and internal factors that influence the organization and its choice of strategy are also important. In order for an organization to remain profitable, one of the strategies that helps it do so is a growth or development strategy, whether it is organic or inorganic growth. Only strategy planning allows for better business coordination. The life cycle of a company consists of four phases: introduction, growth, maturity and decline. It is the most important phase of growth because it actually represents the moment in the development of the company when a business is created that will be able to manage its growth. But even in the growth phase of an organization’s business there are phases that introduce it to the growth of the business itself. Choosing the right strategy requires a team of experts who will check all those external factors of the organization that indicate the threats, opportunities, strengths and weaknesses of an organization, but also all the risks that come with a particular strategy. In addition, it is extremely important to monitor the development of strategies phase by phase in order to avoid errors. Once one makes a mistake with the choice of strategy, it is necessary to choose the next one that was closest to the first one, the chosen one.