Factors Affecting the Outcome of Turnaround Strategies

Turnaround management is a systematic and rapid implementation of a range of measures to correct a seriously unprofitable situation. Organisations experience trends of deteriorating financial performance at some point in their organizational life cycle this is is as a result of rapid advances in technology, increasing competition, market erosion and even decisions by management. While some firms undergo successful turnarounds and return to normality others decline and eventually fail. This book seeks to explain factors affecting the outcome of turnaround strategies. The analysis tries to explain how conflict of interest, resource availability, managerial support and competition may impact the outcome of turnaround strategies. This book explains the importance of recognition and rewarding of employees and how it impacts on overall financial performance.