What is Turnaround Management?
Turnaround Management is the process focused on organisational change, in order to recover competitiveness and profitability.
It is focused on the analysis of the various internal and external factors that have brought the organisation into difficulties and how to overcome them and recover profitability.
Turnaround Management includes:
- Identification of the primary reasons for losses.
- Reassessment of key processes.
- Organisational re-structuring.
- Identification of market opportunities and threats.
- Identification of organisation’s strengths and weaknesses
The main objective is to establish a recovery plan and implement it.