Due to the increasing competition companies must continuously monitor and adapt to changes in their environment if they want to survive in the market. This is why high quality management of an organization is of utmost importance. It is the strategic management that is receiving increasing attention when it comes to following new trends and technological developments in the decision-making process as well as other business activities. Strategic management is important for companies so that they can not only survive but also ensure continuous growth and development in the increasingly complex and dynamic environment. Globalization, a large number of competitors and substitutes as well as advances in technology are just some of the reasons why companies need to define a strategy that will allow them to develop in the long run and respond to the challenges posed by the market. Strategic management places importance on analyzing the internal and external environment of the company as well as the existing strategic direction so that the process of strategic management can be performed as efficiently and effectively as possible. This paper shows the importance of strategic management for company development on the example of Malec Winery. Malec Winery is a family-owned company that bases its business on tradition preservation, long experience as well as upholding the fundamental values that include high wine quality, indigenous wine varieties of Moslavina and the involvement of family in the business. Wineries that also operate in this area, increasing legal and other standards within the viticulture industry, modern technology and consumer preferences and desires are just some of the factors that Malec Winery must continuously analyze and take into account when selecting and implementing development strategy and conducting the strategic management process.