Abstract
The results of the study presented in this book generally support the relationship between strategic issue diagnosis and strategic action as part of the model of the strategic adaptation process presented in Figure 3.2 (section 3.6). How an economic crisis as a major environmental change is perceived and interpreted in a strategic issue diagnosis process can have a significant influence on subsequent choice of strategic action. For example, if the crisis was interpreted as an opportunity, chances were higher that a company took investment or diversification measures. If the crisis was interpreted as a threat, on the other hand, there was a tendency to use rationalization and control-enhancing action.
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