Turnaround strategies are not unique. There are similar principles that can be followed. A Forbes article described how Meg Whitman did for HP. There is the famous turnaround stories of Steve Jobs for Apple, Lou Gerstner for IBM and the lesser known Anne Mulcahy for Xerox. The Forbes article is short and contains some key turnaround strategies. Here is a my mind-map on Whitman's turnaround strategies:
To look for more, you can google on the above stories and work out additional turnaround strategies. However, there is a great book of wisdom on turn-around strategies and more. That book is I-Ching, the Bible for and of Change, and is the root of Chinese philosophies and wisdom. Here is the mind-map that mapped the turnaround strategies of Meg Whitman to the relevant I-Ching Hexagrams and more. You need to read the mind-map carefully to understand more. If you have done some work on the turnaround of Apple, IBM, Xerox, you will find their strategies are covered in I-Ching. Of course, strategies must be executed in details with domain knowledge to be really successful. But I-Ching does point you to the right directions.
Each of the I-Ching Hexgrams contains a description of the hexagram and 6 more lines of wisdom for further actions. You can buy my book "I-Ching for Success in the VUCA World" to know the details or read the following blog posts: Making I-Ching Come Alive! The Key Principles & Applications and for even more Ancient Chinese Wisdom.
Lim Liat (c) 15 Feb 2014