turnaround strategies

Turnaround strategies are plans implemented by organizations to recover from poor performance and return to profitability or stability. These strategies typically involve assessing existing problems, cutting costs, improving efficiency, and sometimes restructuring operations or leadership. Companies may focus on boosting sales, enhancing customer satisfaction, or divesting non-essential parts of the business. The goal is to create a solid foundation for sustainable growth and success, ensuring that the organization can compete effectively in the long term. Successful turnarounds require decisive action and often a shift in company culture or strategy.