turnaround

Turnaround is the process of reversing a negative trajectory in performance and returning an organization, project, or operation to stability and growth. While commonly associated with business distress, the term also applies to operational metrics and logistical contexts where clear improvement is sought.

In a corporate setting, turnaround involves diagnosing causes of decline, stabilizing cash flow, and implementing a restructuring or strategic shift. Typical steps include building liquidity, cost containment, renegotiating obligations, divesting noncore assets, and repositioning the business through new products, markets, or leadership. The aim is to restore profitability, preserve core capabilities, and regain access to capital. Success depends on credible planning, disciplined execution, and support from creditors, customers, and employees.

Turnaround time is a measure of how long a process, service, or system takes to complete from start to finish. It is used in manufacturing, software, logistics, and service delivery to assess efficiency and capacity. Variants include cycle time, response time, and lead time, each reflecting different stages of a value stream.

In transportation and aviation, the term is used more specifically to denote the period between a vehicle's arrival and its departure. An aircraft turnaround, for example, includes disembarkation, cleaning, catering, refueling, boarding, and pushback, and is tightly scheduled to minimize delay.

Turnaround management is a professional discipline that combines financial restructuring, operational improvements, and strategic repositioning. It is supported by specialized firms, consultants, and associations that provide diagnostic tools, governance advice, and execution support.