Strategic management is crucial for the long-term success of organizations, and contains a precondition for the successful determination and achievement of the most important and long-term business goals. Formulation and implementation of strategy have always been the key activities and management functions, so a good strategy and its successful implementation are the most reliable signs of quality management. In determining the general direction of growth and development of the organization, management must decide between many strategic options, depending on the specific internal and external situation of the organization and its current and long-term needs and goals. The growth of the company is one of the most important trends today, so a large number of companies use a growth and development strategy. It is possible to distinguish two basic strategic options for achieving external growth and development, such as: acquisitions and mergers and strategic alliances. Acquisitions and mergers are ways of achieving development goals by purchasing or merging with another business entity. One of the basic ideas of mergers and acquisitions is to generate external growth, that is, to increase the size of the company and its market power, but also to increase the cash flow after mergers and acquisitions. Strategic alliances differ from other types of agreements because they arise to achieve long-term goals and plans of the company, and they are directed at strengthening their own competitive position in the market. The purpose and goal of the work is to bring acquisitions and mergers and strategic alliances as close as possible, and also engage in companies. By cooperating and merging companies or buying other companies, they would develop in the market and together achieve a competitive advantage, and set goals.