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The emerging specialist field of turnaround management – saving critically injured companies – is being recognised with the launch of three new executive certificate courses by the University of Technology, Sydney and the Certified Turnaround Professional (CTP) designation by the Turnaround Management Association of Australia (TMA).
Developed in partnership by the UTS and the TMA, the courses are the first of their kind in Australia to focus on the skills of restoring value to struggling enterprises and avoiding terminal insolvency.
To be offered from February next year, the courses will develop key skills in leadership, legal and accounting in turnaround situations and will teach students how to assist companies to recover and avoid insolvency.
"Like an emergency room doctor, the talent lies in making critical decisions quickly when there is imperfect information" said TMA Australia President, Adrian Loader.
"Until recently turnaround specialists were a relatively unknown breed in the business world. However, as once-stable companies struggle to maintain profitability and deal with leverage issues, the expertise of business renewal professionals are more in demand than ever.”
"The turnaround specialist must enter a company with objectivity and often develop a fresh approach. Operating in the eye of the storm, they have to manage angry creditors, anxious employees, wary customers and a nervous board of directors.”
"Of course there's often a lot at stake as we're well aware from the corporate collapses that resulted from the recent global financial upheaval. We want students to go through real life examples and learn from other peoples’ mistakes and successes.”
"The TMA exists to support the growing number of professionals entering this important field and the UTS courses are an important step in the development of relevant skills in the Australian context," Mr Loader said.
The three executive certificates within the UTS Turnaround Management Association Program are – Leadership for Turnaround Practitioners, Accountancy for Turnaround Practitioners and Commercial Law for Turnaround Practitioners. These courses will be taught by academics from the UTS faculties of Business and Law and turnaround experts from the TMA. Completion of each course will earn a one subject credit towards a UTS MBA degree and accreditation as a turnaround practitioner with TMA Australia. The courses will be offered during February and March 2010. Each is of 40 hours duration and can be undertaken in a flexible format to fit with work commitments.
The Turnaround Management Association of Australia is an international, not for profit association, dedicated to corporate renewal and turnaround management.
Membership is more than 310 in Australia and 9000 internationally and is mostly made up of professionals practicing in turnaround management, law, insolvency, management consulting, banking, finance and private equity.
Students who complete the course and become members of the TMA will be eligible to receive the Certified Turnaround Professional (CTP) designation which provides evidence of an individual’s commitment to the turnaround and corporate renewal industry and also attests to a level of expertise that non-certified professionals may find difficult to prove.
Completing the CTP certification process provides a corporate renewal professional with a solid foundation to operate successfully in the industry and could very well enhance future earning power.
For more information on the TMA and courses, including costs, visit: www.turnaround.org.au or www.tmacourses.uts.edu.au
Contacts
Adrian Loader, President, Turnaround Management Association of Australia, 02 8228 8700