a strategic model of in-crisis firms’ turnaround process

this qualitative study has been done with the final objective of exploring the in-crisis firms’ turnaround process, using a systematic plan of grounded theory. so, open 10 interviews were conducted exclusively with managers of listed (accepted) companies’ in tehran stock exchange experiencing financial crisis during 2006-2012 and they have been successful in turnaround. the results of analysis were achieved through three phases of open, axial, and selective coding so that a set of initial contents was collected during the open coding and some items (categories) were extracted from them; then these items link was determined in coding paradigm in axial coding phase and each components of coding paradigm was described in selective phase. the model developed in this study compared with previous models indicates that with comprehensive approach, while addressing the shortcomings of previous models, complete picture of extra-and intra-organizational factors cause the crisis, nature, severity and duration of the crisis, turnaround strategies, underlying and intervention factors for the implementation of turnaround strategies and ultimately the outcome the revival process in crisis corporate offers.