What term describes a munition that corrects for ballistic conditions using guidance?

The term that accurately describes a munition that corrects for ballistic conditions utilizing guidance is "Guided Munition." Guided munitions employ various systems, including GPS and laser guidance, to adjust their trajectory mid-flight based on real-time data, allowing for greater accuracy regardless of specific ballistic conditions.

Precision munition is a broader term that may encompass guided munitions, focusing on their accuracy in hitting a small target, while smart munition refers to systems that incorporate technology to enhance their effectiveness, which may include but is not limited to guidance. Conventional munitions, on the other hand, do not have any form of guidance and rely solely on their initial launch conditions for impact. Therefore, guided munition is the most accurate description for munitions that self-correct their trajectory in response to changing conditions during flight.