Turnaround

A “turnaround” refers to a significant and often rapid transformation of a business’s performance, typically from a period of decline to profitability. This process may involve restructuring, cost-cutting, or new strategies to improve efficiency and growth. For instance, a struggling retail chain might close underperforming stores and revamp its Marketing Strategy to boost sales. A notable case is General Motors, which underwent a major turnaround in the late 2000s after filing for Bankruptcy and receiving government support, leading to a profitable recovery.