Strategic business is the foundation of success in the business of the 21st century. With the strategy, the management shows to all stakeholders what are the main purpose, how to carry out their mission and achieve the planned goals. In narrow cooperation with the owners of the company management defines a strategy based on the realistic and current situation. Its important for every business entity to develop a strategy which is adjustable in his particular situation, and which is different, from competition strategy. The basic and most often activities in the strategic management process are: defining, implementing and reviewing the vision and mission of the business, defining and realizing strategic financial and non-financial goals of the company, allocating resources, portfolio management, control, monitoring and valorizing results, and constantly making adjustments to strategy. The purpose of this paper is to give a systematic review of strategic management with particular emphasis on the underlying strategy and role of management. The empirical part of the paper deploys case study analysis. The cases selected for analysis in this paper are three typical small enterprises. Qualitative analysis is based on the secondary sources of information such as articles, business journals and magazines, web pages and web services of business and financial data). The analysis of the strategic decisions made to overcome the uncertainties introduced by ascend of the pandemic Covid-19 virus leads to the conclusion management prompt reaction is the foundation of business success. Although, due to the large volume of work, a large number of micro and small enterprises do not have a defined strategy, in the context of uncertain, managers of the analysed businesses were able to react strategically by introduction of the innovations. The results of the analysis indicate that typical strategic reactions included innovations of products and services, and introduction of the new market targets.