Turnaround Management refers to the process of revitalizing a struggling organization to restore its financial health and operational efficiency. This approach often involves identifying the root causes of decline, implementing strategic changes, and improving overall performance. Key elements include financial restructuring, operational improvements, and effective leadership. Successful turnaround management requires a thorough analysis of the company's strengths and weaknesses, as well as a clear plan for recovery. Engaging stakeholders, such as employees and investors, is crucial to ensure buy-in and support for the necessary changes. Ultimately, the goal is to return the organization to profitability and sustainable growth.