Differences in RBV strategic factors and the need to consider opposing factors in turnaround outcomes

The resource‐based view‐related empirical literature has focused on one‐industry–one‐focal‐resource studies to provide support for its core tenets. We complement that literature with a first empirical analysis of multiple strategic factors, including opposing factors, and covering multiple industries, based on a recent survey of turnaround professionals. We focus on two issues. First, we explore what factor characteristics correlate to differences in the level of impact on firm performance that different types of factors have. Second, we explore the balance between opposing strategic factors (i.e., beneficial versus detrimental factors) relating to which turnaround outcome occurs.