“…Portraits of turnarounds painted from the palette of actions and strategies include those provided by Goldstein (1988; for example, cost-cutting actions, revenue-generating actions, and asset reduction actions, p. 7), Slatter (1984; for example, change of management, strong central financial control, and asset reduction, p. 78), Grinyer et al (1988; for example, reduced debt, improved marketing, stronger financial controls, p. 64)-and by an assortment of other foundational turnaround scholars such as Ford (1985), Fredenberger et al (1997), Hofer (1980, Khandwalla (1983Khandwalla ( -1984, Schendel et al (1976), and Shelley and Jones (1993).…”