A complete change in situation, attitude, or performance, often from negative to positive. Can also refer to the time required to complete a process or the physical space where vehicles can reverse direction.
Compound of 'turn' from Old English 'turnian' and 'around' from Middle English. The business sense of dramatic improvement emerged in the mid-20th century from the literal sense of turning something around.
Corporate turnaround specialists are like emergency room doctors for failing businesses, often implementing radical changes in just 90 days to prevent bankruptcy. The concept has become so powerful that 'turnaround story' is now a recognized investment category on Wall Street.
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