(Universidad Icesi, 2017-04-01) Dupleix, María Dolores
Early studies on the role of strategy in the turnaround of declining firms revealed that strategic change
played a central role in the process. However, these studies presented certain limitations, mainly methodological,
which gave rise to an intense debate regarding the role of strategy. This paper reviews recent
literature on the subject and shows that research has evolved, incorporating new elements and integrating
different approaches, thus generating more complete analyzes. By providing a broad view of the
subject, this research may be useful for actors involved in the process of turnaround in declining firms;
and for academics involved in its study. Furthermore, results enhance our understanding of business
failure
