Emergency “turnaround management” is being recognised at the University of Technology Sydney (UTS) with the launch of three execu tive certificate courses this week.

The courses were developed in partnership with the non-profit Turnaround Management As sociation of Australia (TMAA) and are among the first in Australia to focus on developing the skills necessary for restoring value to struggling enterprises and avoiding terminal insolvency.

With increasing demand for expertise in this field – saving critically injured companies – the courses target key interventions in manage ment, accounting and law that give a compa ny the best chance for recovery.

“Like an emergency room doctor, the tal ent lies in making critical decisions quickly,” said TMAA 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, the expertise of corporate renewal professionals is more in demand than ever,” he said.

“The turnaround specialist must enter a company with a fresh approach and complete objectivity. Operating in the eye of the storm, they have to deal equitably with angry credi tors, frightened employees, wary customers and a nervous board of directors.”

The three courses – Accountancy for Turn around, Management for Turnaround and Law for Turnaround – will be taught by academics from the UTS faculties of business and law.