“…It is made up of articles that show the theoretical approaches used to analyze organizational decline through different perspectives: organizational ecology (Amburgey, Kelly, & Barnett, 1993;Hannan & Carroll, 1992;Hannan & Freeman, 1977Miner 1990;Tuma & Hannan, 1984;Tushman & Anderson, 1986), evolutionary theory (Nelson & Winter, 1982), contingency theory (Thompson, 1967) and organizational learning (Cyert & March, 1963;Levitt & March, 1988 For the third period, from 2003 to 2014, the first factor was called actions and decline in turnaround situations, but the difference between this factor and its equivalents for the other periods is that it focuses more specifically on turnaround strategies and actions, and also on situations of divestment. The works on turnaround are included (Bibeault, 1982;Hambrick & Schecter, 1983;Robbins & Pearce, 1992;Schendel, Patton, & Riggs, 1976) as well as an important article by Pearce and Robbins (1993), which introduced the two-stage model for turnaround that has often been used and cited.…”