Exploring turnaround strategies in high-tech SMEs

Since most of the businesses face the organizational decline due to internal and environmental causes, the concept of turnaround strategies is one of the important concerns among business scholars and practitioners. Turnaround strategies are those which prepare the organization for facing the decline situation. Decline means, deterioration of organizations performance and resources in a specific period of time. In this article, we seek to explore different turnaround strategies among high-tech SMEs. We used a qualitative approach to address the articles main question. The sample was driven by high-tech SMEs which have experienced decline situation in their organizational life cycle. The survey data was gathered by depth interviews with 7 cases. The result shows that turnaround strategies can be divided into two main categories: Content-Oriented and Process Oriented. These strategies include Cost/Asset Retrenchment, Focusing on main activities, Growth and Recovery, Change in Organizational Structure and Change in Culture and Leadership.