Action Plan: A detailed outline that specifies the steps, resources, and timeline required to achieve specific goals within a strategy.

Adaptive Strategy: A business strategy that involves continually adjusting and refining strategies based on ongoing feedback and the evolving competitive landscape.

Agile Strategy: A flexible approach to strategy development and execution that emphasizes adaptability and responsiveness to rapidly changing conditions.

Asset Liquidation: The process of selling off assets to generate cash, often used to streamline operations or pay down debt in a turnaround scenario.

Balanced Scorecard: A strategic planning and management tool that uses a balanced set of financial and non-financial measures to provide a comprehensive view of an organization’s performance.

Blue Ocean Strategy: A market strategy that seeks to create and tap into new demand markets, rendering the competition irrelevant by offering something unique.

Business Model Reengineering: Revamping the underlying mechanisms of value creation and delivery in a business to achieve drastic improvements in performance and efficiency.

Capability Analysis: The process of evaluating the strengths and weaknesses of a company’s existing capabilities against its strategic goals.

Competitive Advantage: The unique attributes or circumstances that allow an organization to outperform its competitors.

Core Competencies: Fundamental knowledge, abilities, or expertise in a specific area that provides a business with a competitive advantage.

Corporate Strategy: The overall scope and direction of a corporation and the way in which its various business operations work together to achieve particular goals.

Cost Restructuring: Reducing operating costs through methods such as layoffs, renegotiating contracts, or streamlining operations to improve financial health.

Debt Refinancing: Replacing existing debt with new debt, often with better terms, to reduce pressure from creditors and improve cash flow.

Differentiation Strategy: A business strategy where a company establishes strong brand loyalty and product uniqueness to stand out from competitors.

Diversification Strategy: A strategy that involves entering into new markets or industries with new products or services to spread and reduce risks.

E-commerce Integration: Implementing or enhancing online sales channels to access broader markets and improve sales in a turnaround strategy.

Environmental Scanning: The continuous process of gathering information about events and trends in the external environment that could impact the future of an organization.

Execution: The phase of strategy where plans are carried out or executed to achieve the strategic objectives.

Exit Strategy: A planned approach to liquidating a position in a financial asset or disposing of a business operation as a part of strategic planning.

Financial Reengineering: The complete overhaul of a company’s financial strategies, including cost management, capital structure, and revenue enhancement.

Five Forces Analysis: A framework for analyzing the level of competition within an industry and business strategy development, developed by Michael E. Porter.

Functional Strategy: A strategy developed and implemented by an organization’s various departments to support the business unit strategy.

Gap Analysis: A method of assessing the differences in performance between a business’ information systems or software applications to determine whether business requirements are being met and, if not, what steps should be taken to ensure they are met.

Geographic Consolidation: Reducing the number of locations or exiting markets to concentrate resources on more profitable areas.

Growth Strategy: Techniques used by businesses to achieve substantial growth, whether through boosting the current product lineup, entering new markets, or acquiring competitors.

Horizontal Integration: A strategy used by a corporation that seeks to sell a type of product in numerous markets, or to increase its market share in its current industry.

Horizontal Integration: Acquiring or merging with competitors to increase market share and reduce competition as a part of a turnaround strategy.

Hybrid Strategy: A competitive strategy that involves simultaneously pursuing both cost leadership and differentiation to provide value to customers.

Innovation Strategy: A plan made by an organization to encourage advancements in technology or services, usually by investing in research and development activities.

Innovation Strategy: Implementing new and creative ideas in product development, marketing, and business processes to differentiate from competitors and attract new customers.

Integration Strategy: A strategy that combines activities associated with both forward integration (towards the customer) and backward integration (towards raw materials).

Joint Venture: A strategic alliance where two or more parties, usually businesses, agree to contribute resources to accomplish a specific task or to pursue set objectives.

Joint Ventures: Partnering with other firms to share resources, access new markets, or share the burden of heavy investments during a turnaround.

Just-in-Time Strategy: An inventory strategy companies employ to increase efficiency and decrease waste by receiving goods only as they are needed in the production process, thereby reducing inventory costs.

Key Performance Indicators (KPIs) Realignment: Redefining the metrics used to measure success to focus on those that directly support the most critical aspects of the turnaround effort.

Key Performance Indicators (KPIs): Measurable values that demonstrate how effectively a company is achieving key business objectives.

Knowledge Management Strategy: The methods an organization uses to manage and promote its intellectual resources and knowledge effectively.

Leadership Change: Bringing in new management to inject fresh ideas, perspectives, and strategies into a struggling business.

Leadership Strategy: Strategic decisions made about the leadership styles and management practices that will best foster a productive organizational culture.

Leverage Strategy: The use of various financial instruments or borrowed capital—such as margin—to increase the potential return of an investment.

Market Penetration: A growth strategy where a business focuses on selling existing products within existing markets to gain a higher market share.

Market Repositioning: Changing the target audience or the perceived value of the product or service to meet different customer needs and open up new revenue streams.

Merger and Acquisition Strategy: Strategic plans involved in buying, selling, dividing, and combining different companies that can help an enterprise grow rapidly.

Mission Statement: A brief description of a company’s fundamental purpose. A mission statement answers the question, “Why do we exist?”

Network Strategy: A plan that involves creating a network of relationships with other organizations to share resources or enhance capabilities through collaboration.

Niche Focus: Concentrating efforts and resources on a more narrowly defined market segment that offers growth opportunities and less competition.

Niche Strategy: A marketing approach concentrating on a specific market segment and tailoring offerings to that particular market.

Operational Efficiency Improvement: Enhancing processes to reduce waste, improve speed, and lower costs, thereby increasing profitability.

Organic Growth Strategy: Growth strategy where a company uses internal resources to increase its business by enhancing output and sales, as opposed to mergers and acquisitions.

Organizational Structure: How tasks and responsibilities are distributed within an organization, influencing the company’s management and strategy execution.

Portfolio Analysis: A method used by managers to make decisions about investment mix and policy, matching investments to objectives and balancing risk against performance.

Product Development Strategy: A strategy that involves creating new products or improving existing products to meet customer needs better.

Product Line Rationalization: Streamlining the range of products or services offered to eliminate unprofitable items and focus on core competencies.

Quality Assurance: The strategic management process of maintaining a desired level of quality in a service or product by paying attention to every stage of the process of delivery.

Quality Enhancement Strategy: Strategic actions taken to improve the quality of a product or service in order to meet or exceed customer expectations.

Quality Improvement Programs: Initiating efforts to enhance product quality and service delivery to regain customer trust and satisfaction.

Resource Allocation: The distribution of resources among various projects, departments, or segments of a business to increase efficiency and maximize returns.

Retrenchment Strategy: A strategy used by corporations to reduce the diversity or the overall scale of operations in response to financial pressures or strategic reevaluation.

Revenue Stream Diversification: Identifying and developing new sources of revenue to reduce dependence on traditional streams that may be underperforming.

Scenario Planning: A strategic planning method used to make flexible long-term plans based on the assessment of future scenarios.

Strategic Alliances: Forming partnerships with other businesses to leverage their strengths in a way that supports a turnaround.

SWOT Analysis: A strategic planning tool used to identify the Strengths, Weaknesses, Opportunities, and Threats related to business competition or project planning.

Tactical Planning: Short-term, actionable steps derived from a company’s strategic plan that guide day-to-day operations to achieve medium-term goals.

Technology Strategy: A detailed plan that outlines how technology should be utilized to meet IT and business goals.

Turnaround Team Establishment: Assembling a group of experts dedicated to executing and monitoring the turnaround strategy.

Unique Selling Proposition (USP): A factor that differentiates a product from its competitors, such as the lowest cost, the highest quality, or the first-ever product of its kind.

Upselling Strategy: A sales technique where a seller induces the customer to purchase more expensive items, upgrades, or other add-ons in an attempt to make a more profitable sale.

Utilization of Technology: Leveraging modern technology to improve business processes, customer experience, and operational efficiency.

Value Chain Analysis: A process where a firm identifies its primary and support activities that add value to its final product and then analyzes these activities to reduce costs or increase differentiation.

Value Chain Reassessment: Evaluating each step of the production and distribution process to identify and eliminate inefficiencies or bottlenecks.

Value Proposition: A statement that summarizes why a consumer should buy a product or use a service, clearly stating the value the product or service provides.

War Gaming: A strategy simulation technique used to make strategic planning more robust. It involves thinking through possible scenarios and developing plans to address those scenarios.

Whistleblowing Policy: A strategic framework within an organization that provides guidelines for dealing with reports of misconduct, ensuring that they are handled appropriately and confidentially.

Workforce Optimization: Adjusting the workforce to align with current business needs, which may involve layoffs, rehires, or retraining programs.

X-Efficiency Achieving: Striving to reach the highest level of efficiency in all operations to minimize costs and waste during a turnaround.

X-Efficiency: The degree of efficiency maintained by firms under conditions of imperfect competition such as monopolistic competition.

X-Inefficiency: The difference between efficient behavior of businesses assumed or implied by economic theory and their observed behavior in practice, often caused by lack of competitive pressure.

Yield Management: A variable pricing strategy based on understanding, anticipating, and influencing consumer behavior in order to maximize revenue from a fixed, perishable resource.

Yield Management: Using pricing strategies that anticipate and respond to consumer behavior to maximize revenue from available inventory.

Yield Strategy: A strategy focused on obtaining the maximum yield or return on investments or projects.

Zero-Based Budgeting (ZBB): A budgeting method where every expense must be justified for each new period, as opposed to only explaining the amounts requested in excess of the previous period.

Zero-Based Budgeting (ZBB): Approaching budgeting with no assumptions, starting from zero and justifying every expense to ensure optimal allocation of resources.

Zero-Based Strategy: A method of strategy formulation that starts from a “zero base” and reevaluates every fact of a project or business to optimize performance and cut costs.