TMA Australia

The Turnaround Management Association is the only international non-profit association dedicated to corporate renewal and turnaround management.

TURNAROUND MANAGEMENT ASSOCIATION

The Turnaround Management Association is a not for profit organisation providing a forum for professionals practicing in the field of “Turnaround Management” – restoring value to struggling enterprises and avoiding terminal insolvency.

Our membership is mostly made up of professionals practicing in turnaround management, law, insolvency, accounting, management consulting, banking, finance and private equity. With over 300 paid up members in Australia and around 9000 members internationally we see great potential for our association and the industry.

CORPORATE RENEWAL INDUSTRY OVERVIEW

Until recently , turnaround specialists were a relatively unknown breed in the business world. However, as once-stable companies struggle to maintain profitability, the expertise of corporate renewal professionals is more in demand than ever. Rising competition, cyclical financial markets and economic volatility have created a climate where no business can take economic stability for granted.

ADVANTAGES Of A TURNAROUND PROFESSIONAL

The turnaround specialist enters a company with a fresh eye and complete objectivity. The professional is able to spot problems and create new solutions that may not be visible to company insiders.

The turnaround manager has no political agenda or other obligation to bias the decision-making process, allowing him or her to take the sometimes unpopular, yet necessary steps for survival.

Experience within a particular industry is not as important as experience in crisis situations when a company is facing bankruptcy or the loss of millions in revenue. Like an emergency room doctor, the talent lies in making critical decisions quickly to staunch the bleeding to give the patient the best chance for recovery.

Operating in the eye of the storm, the turnaround specialist must deal equitably with angry creditors, frightened employees, wary customers and a nervous board of directors. With the highest stakes on the table, clearly this is no assignment for the faint hearted.

ETHICS AND PROFESSIONALISM

Membership in the Turnaround Management Association indicates the degree of professionalism and honesty of a candidate. TMA holds members to a Code of Ethics and all members listed in our directory have signed a statement acknowledging the TMA Code of Ethics.

PROFESIONAL DEVELOPMENT

TMA is committed to the ongoing professional development of its practicing members. 

Regular professional development seminars and networking sessions are held with an annual conference where CEO’s discuss their personal case histories along with cutting edge content sessions.