The document discusses various turnaround strategies that companies can employ when facing declining performance or a crisis. It outlines performing a SWOT/TOWS analysis to identify internal and external factors contributing to the decline. There are two main types of turnaround strategies: operational strategies focused on improving business operations, and strategic strategies focused on adjusting the company's product/market profile. The document provides examples of specific turnaround tactics and outlines a typical road map process from initial crisis response to sustainable recovery.