THE TURNAROUND STRATEGY AND COURSES OFACTION OF COMPANIES IN THE CRISIS

Abstract

As the title of this paper indicates, this research is focused on the issue of recovery of companies in the crisis and a decline of business activity, with the possibility of applying the turnаround strategy. The paper is aimed to present and describe the approach to corporate management and strategic courses of action in terms of crisis, in order to improve the organization in a particular situation.

In a concise way, authors are striving to provide an explanation to the managers about the importance of appropriate choice of corporate strategic courses of action for the concept of making the most acceptable model of business strategy in the crisis. Having in mind several aspects, it is tried to observe the turnаround strategy as companies’ reaction to the decline in business performances caused by the negative effects of the recession.