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Turnaround Strategies are strategies that are implemented by businesses that are not achieving their desired results. These strategies can be implemented by any business whether it is profitable but not achieving its desired profit, whether it is operating at its break-even point and needs to move to a profitable state or whether it is not profitable at all.
The implementation of Turnaround Strategies usually involves 3 main stages which are:
Stage 1: Determining the viability of the business and stopping the immediate cash flow drains.
Stage 2: Stabilising the business and developing a sustainable strategy.
Stage 3: Implementing the strategies identified and assessing these on a regular basis to determine effectiveness.
It is important to note that the Turnaround Strategies are implemented with the interest and assistance of all the stakeholders to ensure the best possible success. The Turnaround Strategies implemented by Vitalis Consulting can be done in one of two ways, either on a consulting basis with site visits and meeting with the management and owners or Tiaan Geel is able to perform the turnaround in a Non-Executive Director capacity to the company.
The implementation of Turnaround Strategies usually involves 3 main stages which are:
Stage 1: Determining the viability of the business and stopping the immediate cash flow drains.
Stage 2: Stabilising the business and developing a sustainable strategy.
Stage 3: Implementing the strategies identified and assessing these on a regular basis to determine effectiveness.
It is important to note that the Turnaround Strategies are implemented with the interest and assistance of all the stakeholders to ensure the best possible success. The Turnaround Strategies implemented by Vitalis Consulting can be done in one of two ways, either on a consulting basis with site visits and meeting with the management and owners or Tiaan Geel is able to perform the turnaround in a Non-Executive Director capacity to the company.
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