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Turnaround Management is like Surgery
Jagdish B Acharya, Consultant, India, Premium Member
If an organisation is viewed as a person and its health is taken as its condition then management is the sum of its good practices to keep it healthy, and a turnaround is the treatment when it has fallen sick.
Managers are like doctors who treat organisations and turnaround managers are like surgeons who have to intervene and do major operations.
The solution will depend on problems afflicting organisation but in essence it is treatment for ailments.
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Is Downfall Due to Internal or External Factors?
Agni Chatterjee, Student (MBA), India, Member When we talk about turnaround management, we basically talk about building strategies to rebuild or renew an organisation. Root Cause Analysis being the first step towards this process, the most important thing to keep in mind is to see whether the downfall of an organisation is due to internal pressures or lack of internal capabilities, or due to the external environment. If it's due to internal pressure then we can take necessary steps and revamp the whole organisation and restructure it, but restructuring an organisation facing challenges posed external pressure is not in anybody's hand. An organisation gone down due to external forces is very difficult to revive. If their is no market for the product an organisation is making, no turnaround management plan can save it.
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