ABSTRACT
Turnaround strategy is the action of reversing a negative trend and turning around the organisation into profitability. Turnaround strategy derives its name from the action of reversing a negative trend and turning around the organisation into profitability. The turning around company aims at steady state and growth. The case studies on turnaround of five companies belonging to different industries are discussed and analyzed. In all most of all the cases there is a change in management. The management in all the cases has acted in similar manner and after drawing up revival plan presented the same before various stakeholders. In serious situations, top priority is given to stop the outflow of cash i.e. stop the bleeding. To identify and divest those segments of business which are not contributing to cash flow. The emphasis shifts from ensuring cost reduction for survival to profit improvement with stability. The emphasis of growth strategy has been on revenue growth coupled with profit margin in long run. Planning for growth should be balanced with resources available and other constraints of the company. The possible turnaround strategies relating to finance, marketing, products and human resource which have been initiated are discussed. The communication strategies aimed at the various groups represent a key element for the successful turnaround of companies in critical conditions. The selected strategy needed to be pursued relentlessly and with all out effort to make it work. The set of actions overlapped to some extent but each also had its unique features, which tended to reflect and attempt to remedy the cause of sickness.
