Turn-around strategy by Kwale international sugar company limited
Turnaround strategic management philosophy revolves around short-term survivability while endeavoring not to compromise longer-term turnaround viability thereafter. The study sought to bring out clearly the strategies employed by Kwale Sugar Company Limited to revamp back to life after having collapsed for a very long period of time. The main objectives of the study included identifying the turnaround strategies adopted by the company and also establish the factors influencing the turnaround process. One of the important strategies included reorganizing, refocusing of the existing team under new leadership, turnaround management consulting support and the extensive support from turnaround interim managers. The study applied a case study since it is a research on one organization targeting senior managers as the respondents. The study used both primary and secondary data. Primary data was collected using interview guide as data instrument whereas secondary data was collected from the organization brochures, available documents and the web. Data was analyzed using content analysis and findings of the study were analyzed in prose. From the findings of the study, some of the many strategies employed by the Company to revamp back to business included financial restructuring, reorganization, strategic repositioning, modernization and asset reduction. Execution of the turnaround strategy faces immense complexities, pressure of limited time, information and resources, as well as uncertainty about the future which have to be addressed. As a conclusion, the study found out that various strategies need to be applied in plural to have a successful turnaround process.