WHAT IS TURNAROUND STRATEGY AND WHY IT’S NEEDED FOR BUSINESSES?
Turnaround strategy basically means a set of strategies that are intended to convert or transform a loss-making venture into a profit-making business. It is designed to make a particular company profitable again. The primary objective of implementing a turnaround strategy is to turn the company’s position in a positive direction. The word ‘turnaround’ is very important in the world of business because this world is full of ups and downs. In West Bengal, which is gradually becoming a start-up hub of Eastern India, most of the business houses seek the services of a business consultant company in Kolkata for an effective turnaround strategy. In today’s era of stiff competition and sharp turns in the market scenario, it is essential for every business to adopt a proper turnaround strategy. There is no denying the fact that a turnaround strategy is quite essential to the survival of a faltering business. It is a change in the positive direction and a successful turnaround ...