| dc.description.abstract | A firm may find itself with declining performance due to various external and internal
factors. Top managers believe that such a firm can survive and eventually recover if
concerted efforts are made over a period of time to fortify its distinctive competencies.
The aim of a turnaround strategy is not only to halt decline, but also to generate the
means for a substantial recovery. Therefore, a turnaround is considered to have occurred
when a firm recovers adequately and regains profitability.
The Co-operative Bank of Kenya (Co-op Bank) initially formed to serve the co-operative
movement in Kenya was confronted with internal and external issues that led to declining
performance in 2000. This study therefore sought to investigate causes of the decline in
performance, the turnaround strategies adopted to successfully halt decline and return the
Bank to profitability. The challenges encountered in the implementation process and how
they were over come | en |
