What does turnaround mean at work?

A turnaround is a scheduled period of non-production within the plant. ... During this time the plant's employees, and often outside contractors, work around the clock to get everything ready for the plant or unit to resume its regular operations.

What is another word for turnaround?

What is another word for turnaround?
reversal turnabout
flip-flop change in direction
change of heart turnround
sea change backtracking
turn reverse

reversal	turnabout
flip-flop	change in direction
change of heart	turnround
sea change	backtracking
turn	reverse

What does turnaround plan mean?

Simply, a turnaround strategy is backing out or retreating from the decision wrongly made earlier and transforming from a loss-making company to a profit-making company. ... Turnaround strategy is applicable to the loss-making business unit. It is the act of making a company profitable again.

What is a turnaround deal?

A turnaround or turnaround deal is an arrangement in the film industry whereby the production costs of a project that one studio has developed are declared a loss on the company's tax return, thereby preventing the studio from exploiting the property any further.

What is shutdown and turnaround?

A shutdown is simply a disruption in the refining process. A turnaround is a planned break in production so that maintenance may be performed. The effects of a shutdown or a turnaround can make a difference in the supply available to retail fuel outlets.

What is industrial shutdown?

Industrial Shutdowns, Simplified. Simply put, a shutdown is a time where production halts within the plant. Day-to-day operations pause and instead, the focus shifts to maintenance-related activities like cleaning, inspecting, and repairing equipment.

What is a turnaround situation?

What Is a Turnaround? When a company that has experienced a period of poor performance moves into a period of a financial recovery, it's called a turnaround. ... Similarly, it can refer to the recovery of an individual whose personal financial situation improves after some time.

What is a turnaround time in business?

Definition: Turnaround time is a period of time required for completing a particular process or task since the moment it is formally demanded. Turnaround time commonly refers to the amount of time measured from the submission of a request to the conclusion and delivery to the requester.

How do you turn in a struggling business?

5 Steps to Turning Around a Failing Business

Identify what went wrong. To figure out what happens next in any story, you must first go back to the beginning. ...
Assess the current situation. ...
Invest in the team. ...
Change and update the company's mission. ...
Instill discipline and move forward at flank speed.

What is a corporate turnaround?

Corporate turnaround is defined as: 'The implementation of a set of actions required to save an organisation from business failure and return it to operational normality and financial solvency.

What does the name turnaround mean?

Turnaround is defined as a change in direction, the time spent to implement a product or service or a place where a vehicle can be turned to go back in the other direction. An example of turnaround is a change from being a failing student to an honor role student.

What exactly is a turnaround?

Turnarounds are primarily based on disciplined and systematic application of planning, controlling, organizing and motivating functions, taking many calculated risks, planning for contingencies, much independent creative thought, and steady hard work. This means doing what has to be done - when it has to be done.

What does a turnaround mean?

What does 'Turnaround' mean. A turnaround is the financial recovery of a company that has been performing poorly for an extended time. To effect a turnaround, a company must acknowledge and identify its problems, consider changes in management, and develop and implement a problem-solving strategy.