The Turnaround Management Society is an industry specific organization for Turnaround Management. Its members are turnaround professionals, distressed dept investors and academics.
It is the objective of the Turnaround Management Society to bring together the knowledge of Turnaround Management academics and the experience of Turnaround Management professionals. The TMS provides a link between academics who are engaged in research and the professional community that seeks research outcomes and provides academics with professional insight, guidance and feedback.
Besides supporting academics around the world and providing them with a forum for exchange of information with other academics and practitioners, we are also engaged in research ourselves. Our two ongoing projects are the ITMS and the database of successful turnaround management strategies and cases:
The International Turnaround Management Standard™ (ITMS)
The ITMS provides CEOs and turnaround professionals with industry standards for how to achieve more sustainable turnarounds out of crises by providing a controlled framework of proven strategies and techniques that include project management techniques, financial engineering, strategic and operational concepts, as well as change management, risk management and quality management techniques.
The Successful Turnaround Management Strategies Database
This database is a uniquely useful database of successful turnaround management strategies and cases. The database can be used to scan for successful strategies that apply to a specific crisis situation based on specific causes of decline and symptoms. Members can also find unique and creative approaches to any given crisis situation that have been applied successfully in individual cases around the world.
As a member you will have full access to all search queries and reports.
In addition to the ongoing standard and database project, the TMS provides its members and troubled companies with the following services:
The Turnaround Management Journal (TMJ)
In order to keep its members up to date on industry developments, recent turnaround cases, different perspectives and discussions and to provide a forum for research outcomes, the TMS publishes the Turnaround Management Journal semiannually. The Turnaround Management Journal is available to all members and is distributed to financial institutions, private equity firms, and universities and is also available over the internet.
The TMS is dedicated to providing its members and other interested parties with a high standard of expertise. In order to provide non-members with an independent quality assessment of the knowledge and skills of Turnaround Professionals, we have established a certification process for members that enables them to distinguish themselves from other, less qualified professionals and assures non-members of the highest standards in the industry.
Other activities include:
The TMS publishes academic, professional and case study books, as well as the International Turnaround Management Standard (ITMS)™. The proceeds from book sales are used to fund the society’s projects.
Scholarships are awarded to promising students who write their Masters thesis or PhD dissertation on a topic related to Turnaround Management or Crisis Management. The scholarship includes a professional thesis advisor, turnaround management literature and conference invitations.
Yearly TMS conferences summarize the activities and developments in the industry. Well respected academics and professionals can present their work and their companies to other professionals through presentations, participation in workshops, or by attending networking dinners following the conferences.
Universities have taken note of the increasing demand for turnaround management, and many are now offering classes in subjects related to crisis management. The TMS serves these institutions as a partner in setting up the curriculum for a turnaround management class and supplies lecturers and students with case studies and other supporting material.
The Turnaround Management Society and its members uphold the highest ethical standards in the industry
- The Turnaround Management Society develops the International Turnaround Management Standard™ (ITMS)
- Its members are committed to professional development and research within the industry.
- Its members are actively contributing to the professional and academic development of turnaround management.
- All TMS members contribute to the development of the International Turnaround Management Standard™.
- The TMS provides a place for exchange, education and discussion of Turnaround Management related topics.
- The TMS provides its members with lessons learned reports from past turnaround processes.
- The TMS maintains a database of crises situations, crises factors, case studies, best practices and advise.
- The TMS organizes yearly conferences that are open to all members in order to educate themselves, exchange ideas and experiences and to network with other professionals and academics.
- The TMS provides and online community of turnaround processionals and academics to build and foster an international network.
- The TMS publishes a semi-annually Journal about new developments and case studies in the turnaround industry which is free to all members.
- The TMS publishes a semi-annually update report of the International Turnaround Management Standard™ which is free to all members.
- The Turnaround Management Society develops and promotes the International Turnaround Management Standard™ (ITMS).