The subject of this work is presented strategic management as an essential element of modern business that is subject to uncertainty and changes. The aim of the work is to define strategy, compare strategic management before and today, analyze the process of strategy implementation in business, give an example of good practice - analyze a company that has a successfully developed business strategy. The following methods are used in this work: descriptive, inductive and analysis methods. Strategic management arose as a result of the fact that in the second half of the 20th century, the influence of the external environment on the long-term decision-making process could not be ignored. The environment at that time was very uncertain for the survival of the company, the focus of the company on internal management became a thing of the past. Orientation to the external environment has become a management imperative for the survival of the company, more precisely strategic management. Formulating a strategy is not a simple process and requires large material and non-material investments. It starts with determining the company's vision and mission. Vision is a concept that represents the desired state of the company in the future, while mission is the purpose of the organization's existence in the present. These two elements are necessary for the formation of an appropriate strategy. There is a high correlation between vision, mission and business goals in business. Once the company's visions and missions are established, top managers should set long-term goals. Objectives are formed in such a way as to take the statements from the mission and turn them into specific commitments. They are the results and performance expected from the strategy. The purpose of goals is to direct managerial tasks towards specific results. Goals also help stakeholders to understand their role in the future company. They emphasize the company's priorities and stimulate more efficient work and training.