The subject of this paper is strategic analysis of the largest Croatian confectionery manufacturer, Kraš d.d. Paper analyzes the external and internal environment and the results of research are combined and showed in SWOT analysis. The introductory part of the paper presents structure of the paper. In the second part, through theoretical processing, all key concepts that are necessary for understanding the process of strategic analysis are introduced and explained. In the third part, the above stated theory is presented in practice, and each item of the environment is analyzed, including two segments of the external environment (macro and micro environment) and the internal environment. The analysis of the macro environment was performed with the PEST matrix and the analysis of the micro environment was performed with Porter's five forces model, while competeny matrix and value chain analysis were used for analysis of the internal environment. Based on the previous analyzes, the strengths and weaknesses, opportunities and threats were extracted and inserted into the SWOT analysis with which the practical part of the paper ends. At the end of the paper there is a conclusion of the paper, a list of references, tables, pictures and graphs and a summary of the paper in both Croatian and English.