There is much literature covering strategic change under different circumstances but very little concerning how companies act strategically under sudden and radical changes to market conditions. Based on three different events (the terrorist attack in the USA September 11th 2001, the Tjernobyl accident April 26th 1986 and the Islamic revolution in Iran 1979) with such radical changes as a result we chose three companies that were affected (SAS, Asea Atom and Atlas Copco). The result of the events that were studied in this thesis is extremely unusual to their character. The events themselves were sudden and of a temporary nature but the results were long term changes of market conditions. Through personal interviews the authors have tried to establish how the companies have perceived the events and how the top management has strategically handled the situation. It seems like the interpretation of the importance the event will have on the company's future has been the basis for what measures that where taken. Furthermore, the authors have, after having compared the actions of the companies with some already established theories concerning strategic change, been able to see that the existing theories cannotcompletely explain the actions of the companies and reactions under such extreme conditions. The time aspect and the resistance to change are factors that are affected by the radical changes of market conditions, since the planning of the changes takes place under a very compressed period of time, and the resistance to change that becomes unusually low within the company.

<p>There is much literature covering strategic change under different circumstances but very little concerning how companies act strategically under sudden and radical changes to market conditions. Based on three different events (the terrorist attack in the USA September 11th 2001, the Tjernobyl accident April 26th 1986 and the Islamic revolution in Iran 1979) with such radical changes as a result we chose three companies that were affected (SAS, Asea Atom and Atlas Copco). The result of the events that were studied in this thesis is extremely unusual to their character. The events themselves were sudden and of a temporary nature but the results were long term changes of market conditions. Through personal interviews the authors have tried to establish how the companies have perceived the events and how the top management has strategically handled the situation. It seems like the interpretation of the importance the event will have on the company's future has been the basis for what measures that where taken. Furthermore, the authors have, after having compared the actions of the companies with some already established theories concerning strategic change, been able to see that the existing theories cannotcompletely explain the actions of the companies and reactions under such extreme conditions. The time aspect and the resistance to change are factors that are affected by the radical changes of market conditions, since the planning of the changes takes place under a very compressed period of time, and the resistance to change that becomes unusually low within the company.</p>