Why are some firms able to break-out of stagnating or declining performance patterns? This study, only partially reported here, attempts answers to this question by using a matched-pair sample to compare firms in similar environmental conditions, but who differ in performance outcomes: one firm turns around, while another fails to do so. The study builds on work already done in the area on corporate turnaround strategies, [1] The turnaround firms of the prior study have been matched to similar firms who have continued to stagnate or decline in performance results.