top business turnaround stories

Leadership is a key element. A strong leader can identify the problems and come up with innovative solutions. For example, in Apple's turnaround, Steve Jobs' vision was crucial.

IBM is another example. In the 1990s, IBM faced huge challenges from competitors. They decided to shift their focus from hardware to services and software. They invested heavily in research and development for new technologies. Through a series of strategic acquisitions and internal restructuring, IBM managed to reinvent itself and become a major player in the IT services and software market again.

IBM also has an amazing turnaround story. It was once a struggling mainframe - centric company. But it shifted its focus towards services like consulting and software. It made smart acquisitions and invested in research for emerging technologies. This transformation allowed IBM to stay relevant and competitive in the constantly evolving technology market.

One well - known business turnaround success story is Apple. In the late 1990s, Apple was on the verge of bankruptcy. Steve Jobs returned to the company and made a series of bold moves. He streamlined the product line, focusing on a few key products like the iMac, which had a unique design. Then came the iPod, which revolutionized the music industry. The iPhone later changed the mobile phone market completely. Apple's focus on innovation, design, and user experience turned it into one of the most valuable companies in the world.

A small family - run restaurant was struggling. They had a traditional menu but found that younger customers were not interested. So, they updated their menu to include modern twists on classic dishes, using fresh and local ingredients. They also renovated the interior to give it a more contemporary look. Additionally, they offered cooking classes on weekends. These changes brought in a new crowd of customers, and the restaurant became successful again.

Shopify. In the highly competitive e - commerce space, Shopify was not always in the spotlight. But they focused on providing an easy - to - use platform for small and medium - sized businesses to set up their online stores. They continuously improved their features, such as payment gateways, inventory management, and marketing tools. As more and more small businesses wanted to have an online presence during the digital transformation, Shopify's user - friendly approach led to its growth. Now it is one of the most popular e - commerce platforms globally.

J.C. Penney is a good example. It faced tough times due to changing consumer trends and competition. After some missteps, it started to focus on its core customers again. It brought back popular brands and improved its in - store experience. It also worked on its pricing strategy to be more competitive, which helped in its turnaround.

Some of the top 2018 business stories might include the rise of new tech startups, mergers and acquisitions in major industries, and the growth of e - commerce giants. For example, Amazon's continuous expansion both in terms of market share and new business ventures like its push into grocery delivery with Amazon Fresh. Another could be the developments in the cryptocurrency market, which had a lot of ups and downs during 2018, attracting both investors and regulators' attention.

In 2017, the mergers and acquisitions were among the top business stories. For example, some big companies combined to gain more market share and expand their operations globally. Additionally, the challenges faced by traditional retail stores due to the growth of online shopping were a major story. Many brick - and - mortar stores had to either adapt or close down. And the development of artificial intelligence in business was also a hot topic. AI was being used for things like customer service, data analysis, and supply chain management.

Sure. A small software startup was failing as it couldn't compete with big players in the market. But they found a niche in creating specialized software for a particular industry. They focused all their resources on perfecting that product. Through word - of - mouth in that industry, they started getting more clients, and now they are growing steadily.