The purpose of the study is to assess the effectiveness of turnaround strategies at Grain Marketing Board. The scope of the study spans from the period of 2003 to 2006 and restricts itself to GMB. The research objectives were to review the performance trends at Grain Marketing Board over the period of 2003 to 2006, to establish the factors that led to the operational performance decline at Grain Marketing Board, to establish the turnaround strategies used at GMB, to determine the relevance and impact of turnaround strategies at Grain Marketing Board and to determine the relevance of turnaround strategies in the Zimbabwean situation. To investigate the above mentioned objectives, the researcher used personal interviews, questionnaires and secondary data. The findings indicated that GMB had effective turnaround strategies. Although the findings indicated that the turnaround strategies were effective, little was done in terms of cultural re-orientation. As such the scholar assert that current company performance is an understatement of what the company position would have been, had it been that this was given full attention.