Ingredients for a successful turnaround
March 8, 2011I just responded to someone writing a research paper on turnarounds who asked, among other questions, “What are the key ingredients for a successful turnaround?” Here is my answer:
1. Management willing to make needed changes
2. Market for the company’s goods and services
3. Enough cash to get through the crisis
4. Turnaround team with a skill set that is a match for the issues facing the company