Definition
Turnaround management restores viability by stopping losses, repairing the core, resetting the portfolio, and rebuilding trust.

Introduction
Failure happens. The art is to respond early and decisively—protecting cash, customers, and talent while redesigning the path forward.

Explanation

Stabilize: cash controls (13-week), cost triage, vendor renegotiations, “no-regret” cuts.

Customer & product triage: protect top cohorts and hero SKUs; exit loss-making tails.

Portfolio reset: divest non-core; refocus capital on profitable core.

Leadership & culture: new guardrails; visible wins in 90 days.

Debt & stakeholders: transparent comms with lenders, suppliers, employees; align incentives to recovery milestones.

Key Takeaways

Survival first; then optionality; then growth.

Choose few vital initiatives and over-resource them.

Communicate relentlessly; credibility is an asset.

Real-World Case
Domino’s (again, as a turnaround exemplar): admitted failure publicly, fixed product, revamped tech and delivery promise, and restored growth—textbook stabilize→rebuild→grow.