Ingredients for a successful turnaround

March 8, 2011

I 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

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