turnaround plan

A turnaround plan is a strategic process that organizations develop to restore financial health and improve performance when facing problems like losses or declining operations. It involves analyzing the current situation, identifying issues, and implementing targeted actions, such as reducing costs, reorganizing resources, or boosting sales. The goal is to stabilize the organization quickly and set it on a path to sustainable growth and profitability. Essentially, it’s a structured effort to reverse negative trends and help the organization regain strength and stability.