Study of Turnaround Management : Recognition of Turnaround Situation and Turnaround Action in Japanese Companies

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This study investigated the relation between recognition of turnaround situation and turnaround action in Japanese companies. Interviews were used as the data collection and qualitative techniques were applied for data analysis. Findings showed companies recognized turnaround situation earlier had a tendency to start earlier turnaround action. Results indicated that early recognition of turnaround situation by top management and warning against crisis to their members quickly, producing a sense of impending crisis, taking measures to spread it among members were their outstanding characteristics.