The graduate paper analyzes the strategic management in business change setting on the example of the aforementioned companies. The telecommunications market is one of the fastest growing industries in the world today. When analyzing the impact it has on the global market, it may be concluded that over the last twenty years telecommunications has had a significant impact on economic development in general. Thus, the telecommunications market becomes interesting in view of the emergence of new providers of telecom services, leading to a situation of strong competition. In such a competitive business environment, companies that do not adapt their own strategic plans cannot count on market survival. The paper starts off with the theory of strategic management in business change situations. The theoretical part of the paper provides insight into strategic management, business change and business change management. The research part of the paper deals with the analysis of a management takeover of an enterprise on the brink of bankruptcy. Optima Telekom d.d. has been selected for a management analysis in a business change setting. The company has changed its governance structure via a pre-bankruptcy settlement. Following the takeover, the management analyzes the company's internal and external environment and presents a strategic business plan. The goal of the paper is to identify the reasons of the takeover, as well as analyzing the strategic takeover of company management itself. The research in this paper is intended to provide insight into strategic management in business change situations based on the given analysis, and to rate the efficiency of the strategic management implementation under the analyzed conditions.