The services provided by the sector of telecommunications in the 21st century are essential for the daily functioning of individuals and enterprises on a global scale. The enterprises in this industry have built the infrastructure that is the bedrock for today's information exchange, which has a positive (in)direct impact on aggregated economic activity. A stable infrastructure that is continuously improved sets a foundation for future technological innovations and accelerates the process of digital transformation. Recognizing the importance of this industry for the overall success of an economy, we focus on the Republic of Croatia and its' largest company in the industry, Hrvatski Telekom d.d. The subject of the thesis is the strategic analysis of the company Hrvatski Telekom d.d., that is, the analysis of the company's external and internal environment in the function of strategic management of the company's value. The aim of the thesis is, based on the analysis of the current state, position and activities, to form the development strategy of Hrvatski Telekom d.d. and evaluate development alternatives with the aim of creating a sustainable competitive advantage in conditions of high complexity. The professional contribution of the thesis is in the value of diagnosing the strategic success factors of the market leader in the telecommunications industry and formulating development alternatives, which will benefit economic analysts, managers and experts from the field of telecommunications, as well as other experts from related industries. Sources such as relevant books, scientific articles, audited financial reports and publications of governmental and non-governmental organizations from the field relevant to the research, i.e. from the field of the telecommunications industry, will be used for the preparation of the thesis. The methods of deduction, induction, analysis, synthesis and description will also be used.