As per Robbins and Pearce (1992) company turnaround concept is explained and operationalized as “performance decline followed by performance improvement” (Hacker & Hacker 1998, p. 2). This description is closely aligned with Brandes and Brege’s definition of company turnaround: “a process that takes a company from a situation of poor performance to a situation of good sustained performance”. (Brandes and Brege’s 1993, p. 92). It is a combination of practices and procedures driven by sharp and relevant strategies that can initiate and achieve company turnaround process. Role of strategic selling is often neglected or not given its due recognition in most turnaround attempts. This paper will analyse the various practices and methods within strategic selling function which contribute to a company turnaround effort.
When an organisation attempt to improve performance within a turnaround phase, there is no single strategy that is being deployed. There is often a collection of strategies which is harnessed towards this purpose. As per Haker & Haker (1998) it is often difficult for firms to isolate and identify one single contributing factor or a single player in this rescue mission. But, much of the responsibility lies in the sales and marketing force. Haker & Sharma (1999) identified that “sales policies and procedures were crucial” for a successful turnaround strategy and generating the much needed revenue in the performance improvement. Many scholars identified that firms with marketing orientation driven by a customer focus is more adapt and capable of sustained performance (Slater & Narver 1994; Carson, Cromie, Mcgrowan and Hill, 1995). Successful turnarounds are heavily dependent upon the quality of sales strategies. Strategic selling can be seen as an extension of the marketing concept with elements such as strategic ...
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