turnaround strategy and how it can revitalize struggling organizations, fostering resilience and long-term success.
Understanding Turnaround Strategy
A turnaround strategy is a comprehensive plan implemented by companies facing financial distress or operational challenges with the aim of reversing decline and restoring profitability. It involves identifying the root causes of the problems, implementing corrective measures, and charting a new course for sustainable growth. While turnaround strategies vary depending on the specific circumstances of each organization, they typically involve a combination of operational, financial, and strategic initiatives aimed at addressing immediate issues and positioning the company for future success.
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