This work tries to show since the Strategic Management has evolved across the time. For it, has been realized a review of the literature that exists on the area. Principally there have been checked the primary sources, which they are all practically in English language. It is possible to observe as this field has moved from the theories that focus in the internal aspects of the company, to those who do it in the external aspects, from that they focus on the level of the company, to which do it to the level of corporate groups or the industry. It can be view the use of the qualitative and quantitative methods too. Nevertheless, across the time, there have been perfected the analysis and the explanatory models of the phenomenon called Strategic Management.