The Turnaround
Companies can find themselves in need of a financial turnaround from time to time because of declining profits. There are several factors that are usually the cause of a company finding itself in this position. Among these reasons are economic recessions which obviously affect us all. There are sometimes production inefficiencies that can severely hurt a company?s valued reputation. For example, the Firestone tires used on Ford Motor Company?s best selling Sport Utility Vehicle, The Explorer, not only hurt the reputation of Firestone but also had a substantial impact on Ford?s Automotive Sales figures. There can also be innovative breakthroughs by competitors such as when Minnesota Mining and Manufacturing, otherwise known as 3M, introduced its diamond grade reflective tape to their industry. They virtually cornered their market. Their product was seventy-five percent more reflective than the competition and that mattered to the different countries all over the world trying to make their roads the safest. During my research, I came across the interesting story of a golf course that saved a town by sparking a huge financial turnaround. Although the town is not necessarily a golf industry business,
turnaround, town, high, new, bridge, golf, course, years, school, million, mayor, luck, financial, three, taxes, property, people, now, make, made, local, jersey, hurt, business, after, about, valued, units, two, time, thing, themselves, survive, strategic, schweikert
