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I read through all blog posts on Tom's, and it looks like there hasn't had any article covering turnaround domain. I hereby just list a few thoughts of mine, taken as humble contribution to the topic. Turnaround is a big business and there is no hard-and-fast definition of what constitutes a turnaround situation. According to Stuart Slatter, the author of Corporate Turnoarund, the terms refers to those firms or operating units whose financial performance indicates that the firm will fail in the foreseeable future unless short-term corrective action is taken. A broad definition of what constitutes a turnaround situation recognizes that firms often exhibit symptoms of failure long before any crisis begins. If no corrective management action is taken in a turnaround situation to adapt to the changing product-market environment, a crisis situation will eventually ensue, as it it is in RadioShack's case, and the corporation becomes insolvent, since external events can only postpone insolvency, not avert it. The company could ultimately end up in liquidation under Chapter 11. Four phrases to save RadioShack: 1. Take Control ■ Crisis stabilization · cash management · first-step cost reduction · short-term financing ■ Leadership · change of CEO (e.g., depending on whether there are lots of internal bureaucratic bottlenecks, etc) · change of other senior management 2. Rebuild Stakeholder Support ■ Stakeholder management · communications 3. Resolve Future Funding ■ Financial restructuring · refinancing · asset reduction 4. Fix the Business ■ Strategic focus · redefine core businesses · divestment and asset reduction · product-market refocusing · downsizing · outsourcing · investment ■ Organizational change · structure changes · building commitment and capabilities · new terms and conditions of employment ■ Critical process improvements · improved sales per store and marketing · quality and services improvements · improved responsiveness · improved information and control system (e.g., referring to Zara's savvy systems) Back to the case in point, it ironically reminds me what happened to a still fleshing case - HMV saved by Helico out of administration. Though many successes and shortcomings can be applied from HMV's situation, we'd still like to look at the causes of corporate decline in particular to prioritize efforts on the framework chains we mentioned earlier. This includes looking after both internal and external factors. ■ Internal Factors · poor management · inadequate financial control · poor working capital management · high costs · lack of management efforts · over-trading · big projects · acquisitions · financial policy · organisational inertia and confusion ■ External Factors · changes in market demand · competition · adverse movements in commodity prices As far as from the available evidences and facts we collected from the case, we agree that it is competition that matters more, based on which I could further derive our plan to shift the strategic focus and the following marketing plan for the growth phrase.