Abstract
A market oriented approach is necessary for a successful turnaround of a once profitable company or division, now operating at a loss, because the problems to be tackled are often many and varied. It is essential that the executive has a proven framework for handling the situation, as speed is important in any turnaround operation. To eliminate losses is only one part of the task as the objective must be to achieve an adequate return on total funds invested in the medium-term. This is likely to require a reposturing of the company using a business development approach. The remainder of the article outlines the action required to reposture the business following the elimination of losses.
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