turnaround plans

A turnaround plan is a strategic approach a company uses to improve its financial health and operational performance after experiencing difficulties. It involves identifying problems, setting clear goals, and implementing specific actions such as cutting costs, increasing revenue, restructuring operations, or changing management. The goal is to stabilize the company, restore profitability, and position it for sustainable growth. Essentially, it’s a focused effort to reverse decline and set the business back on a successful path.