"There are certain conditions or indicators which point out that a turnaround is needed if the company has to survive”. Discuss.

In today's competitive and volatile business environment, no organization can assume sustained viability. A turnaround strategy is a focused effort aimed at restoring an organization's profitability and ensuring survival when both internal weaknesses and external threats endanger its existence. Turnaround becomes necessary when a company faces a significant crisis that severely affects its operations and performance. It is typically adopted when survival is the immediate goal, before growth can be pursued. There are several indicators or conditions that signal the need for a turnaround strategy: Persistent negative cash flows from operationsUncompetitive products or servicesDeclining market shareDeterioration in physical facilitiesOver-staffing, high employee turnover, and low moraleMismanagement Early identification of these danger signals and immediate corrective action is essential for ensuring the company's survival and eventual recovery.