Factors to Recognize a Need for Turnaround
Other parameters to recognize the need for a turnaround could be decreasing demand
or decreasing market share
, non-profitable units / businesses
proving a drain on profitable units/ businesses, decreasing "new customer business"
A turnaround situation can never happen overnight. The signs are present in terms of information, data, statistics or reports. They are either missed or purposely overlooked by the company management
(for reasons best explained by them)
I strongly believe that a need for turnaround is because of management delay in taking quick decisions to simple problems
, which, not addressed in time, burgeon into a crisis.