Recommend turnaround strategies that are needed to rescue a retail business Answer to include.

1. An introductoary discussion on turnaround strategies for business in crises. (5 Marks)

2. A discussion on the four actions taken to rescue a business. Actions to include are :

a) Selling off assets to raise cash to save the remainder of the business.

b) Revising the existing strategy when weak strategy is a root cause.

c) Launching efforts to boost revenues.

d) Pursuing cost reduction. (20 Marks)