Phases of a Turnaround

The Strategic Plan

A coherent, simple and actionable strategic plan is never more critical than during a turnaround or crisis. The plan is normally developed concurrently with the assessment phase and, at a minimum, identifies:

• The areas which are of critical importance for the long-term success of the company.

• The specific action programs to be employed to effect the turnaround.

• The financial and human resources needed for implementation.

• The time needed for implementation.

• The performance measures to doggedly track implementation.