Turnaround
Turnaround ( English turn around , "to turn around") is a general Anglicism for a turnaround , a reversal or a reversal, usually tending towards the positive.
General
In Anglo-Saxon parlance, the turnaround denotes the change from a status quo to an opposite situation. A turnaround becomes necessary when success drops below an acceptable level. In the economy in particular , it describes overcoming a crisis , the turning point in a curve or a trend reversal in the economy , in the stock market index , in financial indicators , fundamental data , economic or business indicators or in company data . In a more general sense, a fundamental improvement in company data is called a turnaround, specifically it is the return of a company to profitability that was previously losing. The turnaround therefore plays a role in fundamental and chart analysis . The economic entities affected by a crisis ( companies , other associations of persons or a state with its subdivisions) should be brought out of the crisis situation by means of certain measures.
Examples
For example, if a sustained recession in an economy is followed by a sustained upswing , this is a turnaround. If a company comes out of the red , crosses the breakeven point and finally makes a profit , there is also a turnaround. In stock trading , the turnaround situation is an opportunity to buy stocks on the stock exchange because an improvement in the profitability of a company or industry appears to be on the horizon.
Turnaround management
Economic measures aimed at a turnaround are initiated by the turnaround management and include economic disinvestments , consolidation , cost reduction , restructuring , reorganization , debt relief or rescheduling . Organizationally, a weak point analysis can reveal weak points , lay off staff (up to mass layoffs ) or change the structure and process organization to turnaround. If the measures taken do not succeed, bankruptcy will result . Organizationally, turnaround management can be located within crisis management .
The later countermeasures are taken, the more difficult it is to get the company back on the road to success.
Other areas of expertise
In the process industry , turnaround describes the management of maintenance and servicing measures in the operation of large plants that are in continuous operation . In the case of inspections or repairs, the period between shutdown ( shutdown ) and restart is referred to as the turnaround. In aviation , the turnaround (turnaround time ) is the period of time during which an aircraft is on the ground ( ground turnaround ) as well as the handling activities that take place during this time, such as cleaning , refueling , loading and unloading , catering and pushback .
See also
Individual evidence
- ↑ Patrick S. Maurenbrecher, restructuring of medium-sized companies by private equity companies , 2008, p. 32
- ↑ Donald C. Hambrick, Turnaround Strategies , in; William D Guth (Ed.), Handbook of Business Strategy , 1985, p. 10.2
- ↑ Horst Fugger, Börsen-Lexikon: Börsenwissen von A - Z, 2007, p. 178
- ↑ Christopher Jahns, Turnaround-Management , in: Wolfgang Lück (Ed.), Lexikon der Internal Revision, 2001, p. 325
- ↑ Hans E. Büschgen, Das kleine Börsen-Lexikon , 2012, p. 1025
- ↑ Rolf Bühner (Ed.), Management-Lexikon , 2001, p. 767
- ↑ Rolf Bühner (Ed.), Management-Lexikon , 2001, p. 681
- ↑ Christoph Lymbersky: International Turnaround Management Standard: A corporate restructuring and transformation process: Version 1.1 . Management Laboratory Press, 2013, p. 53-56 .
- ↑ Niels Klußmann / Arnim Malik, Lexikon der Luftfahrt , 2018, p. 648 f.