Successful turnaround strategies

Abstract

Purpose

The purpose of this paper is to help CEOs pick the best turnaround strategy.

Design/methodology/approach

The paper reviews a key research study on firms in turnaround situations.

Findings

The study finds that turnaround strategy must fit the cause of the firm's problem.

Practical implications

The paper is useful in helping senior managers avoid a common problem.

Originality/value

The paper focuses attention on the key to turnaround success. It highlights an academic research study with a rare nugget of insight for CEOs. This paper has not been published elsewhere.

Citation

Donald Hopkins, H. (2008), "Successful turnaround strategies", Strategic Direction, Vol. 24 No. 8, pp. 3-5. https://doi.org/10.1108/02580540810884566