Turnaround recovery strategies encompass a variety of approaches that businesses adopt to bounce back from a period of declining performance. These strategies are particularly significant as they signify a company’s resurgence following a substantial downturn.

Furthermore, the concept of turnaround strategies extends beyond the corporate realm; it can be applied to rejuvenate a country or a region’s economy after a period of stagnation or recession. Similarly, it can also describe a fundamental shift in an individual’s financial strategy during a crisis.