Seminar paper from the year 2018 in the subject Business economics - Business Management, Corporate Governance, grade: 1,0, University of Applied Sciences Riedlingen, course: Strategic Management, language: English, abstract: Taking a closer look at two fictional companies, "Natura corporation" and "Wasserspiel GmbH & Co. KG", strategic options will be discussed which need to be considered for a possible merger of those companies by conducting a SWOT (Strengths, Weaknesses, Opportunities, Threats)-Analysis for both. To identify their position in the competitive environment, a Stakeholder-Analysis will be developed and discussed. In a final step, Wasserspiel's role as a hidden champion will be analysed along with a proposal, if it is of any benefit to continue a focussed strategy. First, ground theories of strategic management will be explained, including a brief definition of what strategy is, followed by an overview of strategic management. As it is necessary for comprehending the subject of this paper, a detailed look on the strategic position analysis will be done by explaining the concepts of SWOT-Analyses and the Stake-holder-Approach. To conclude the theoretical fundamentals, an explanation of strategic choices will be given, followed by a detailed look on the benefits and risks of following a focussed differentiation approach. The following chapter will conduct the SWOT approaches for both fictional companies, followed by a Stakeholder-analysis and their implications on both companies. Furthermore, Wasserspiel's strategic choices towards a niche strategy will be discussed and conclude the chapter. Being a young field of management theory, strategic management has become increasingly important over the last 20 years. While originally being handled by external consultant agencies, nowadays every - even small - company must consider its strategic and competitive approach. This is a result of the increasing competition due to globalization and digitalization