Five steps to a Yahoo turnaround

After reading through many articles I felt that what has actually made yahoo to progress and make a comeback in the IT market:-

 First and fore most is to :

Focus on social media:Despite the company's acquisitions of popular photo site Flickr and bookmarking site Delicious and the rapid rise in use of its Answers site, analysts say Yahoo has failed to adequately integrate the services or create a centralized online hub for people to hang out. Yahoo's 360 social network has not been widely adopted, even within the company

Getting  better in Video Quality:Yahoo has stated that it plans to target social networking, video and mobile. "They need to definitely be on the lookout for acquisitions that make sense in those areas

Designating a CTO officer:Yahoo needs to fill its open chief technology position, and soon. The spot has been vacant since Farzad Nazem resigned several weeks ago. Given that Yahoo is a technology company, the role is, needless to say, a rather big deal.

"They need to bring in good additional management, someone who has credibility both internally and externally"

Innovate out of trouble:Yahoo remains one of the top Web sites on the Internet and its e-mail, instant messaging and news services are leaders, but the company hasn't had a real home run in a while with a new product. While Google grabs the headlines and geek cachet with products like Google Earth, YouTube and Google Apps, Yahoo's coolness factor has suffered.

A few months ago Yahoo opened what it calls "Brickhouse," a unit devoted to developing innovative new products, but so far there's been only one release--Yahoo Pipes, an interactive feed aggregator

Streamline internal structure, processes: With nearly 12,000 employees and so many different products and divisions, Yahoo has become a large, complex corporation that some critics say has difficulty responding quickly to competitive threats, such as Google on search and search advertising. The company could start by axing redundant, overlapping and underwhelming products, like it did by shutting Yahoo Auctions and closing Yahoo Photos in favor of Flickr, Jackson said. Consolidating MyWeb and Delicious might be a start, he added.

"Authority and decision making needs to be pushed down within the organization," Jackson said. "There is a culture that has become apparent where too many managers are quashing ideas that come up from below."

These are the key areas which will make it better in terms of its services and counteracting Google