How the turnaround skillset can help manage uncertainty

The one certainty in recent memory for all businesses and organisations has been uncertainty. Political and economic disruption has become the usual backdrop to running a business or managing an organisation. So far in 2026, as businesses felt that the impacts of international shifts such as tariffs and conflicts were starting to be more familiar, recent weeks have seen expanded geopolitical instability, with impact on oil prices and supply chains. Already one of the key issues facing businesses according to our 2024-25 survey of independent IFT members was management bandwidth and fatigue, and many will find planning and setting strategy and goals difficult on what seems to be constantly shifting macroeconomic sand. With recent geopolitical events indicating no abating of macroeconomic instability, how can businesses best navigate an uncertain environment?

We may think of turnaround skills as applying mainly in situations of financial crisis or shock, but a turnaround mindset can also support wider business agility and ability to weather change. Turnaround professionals are well versed in rolling their sleeves up and get on with fixing problems – within an overall approach of assessing all the elements of a business and identifying opportunities and different ways of doing things. In 2024-25, as well as supporting short-term survival of businesses, long term transformation was also a key focus for independent IFT members, with 75% supporting boards to create strategic change, and 63% undertaking transformational change to the delivery model.

A key aspect dealing with uncertainty and instability are the fundamentals of how a business is run: is it operationally efficient and effective? Recent IFT research on operational turnaround and transformation highlighted how such operational approaches can be used across different scenarios, from rigorous programme delivery to strategic transformation – as well as company rescue. A key aspect is reviewing and improving business processes across different functions, from sales to back office, to product, to planning. Are there inefficiencies in workflows, is there spare capacity not being utilised, can reporting be streamlined to reduce administrative burdens and improve or refocus information gathered, is the business properly focused on what your product or offering is and how this delivers for customers and other stakeholders?

A survey of IFT members focused on operational turnaround and transformation found that though the positive impact on financials from operational projects was clear – such as increased profitability or cost savings – other significant outcomes included culture change and more effective management/governance. For instance, whilst 79% cited improved profitability and 64% cost savings, 62% cited culture change and more effective management/governance. Improvements to processes and governance then can lead to a virtuous cycle of a more focused team and management more able to react to unexpected events or with improved capacity to plan and think strategically. This in turn can support a business to both preserve and grow value.

As IFT members and partners highlight, the key is to not be overwhelmed by the pace and scale of events and change outside your control but to focus on what you can control and what actions you can take to best support your ability to respond.