The objective of this paper is to analyse the role of the strategic planning for manufacturing companies. Paper explains current strategic models and development throughout the history, describing it based on the technological industrialization approach. Firstly, authors determine current behaviour of the industry. At present manufacturing industry have been missing proper strategies. The growth of the export of manufacturing products depends on identification of the proper strategy, by analysing the present market factors. In order to compete in international markets well-defined strategy, establishing sustainable development for the industry is necessary. The development of strategic planning in industry is based on breakthrough innovations and completive advantages. This paper is analytical study of different aspects of strategy planning for manufacturing industry in Latvia.