The Turnaround Management Association is the only international non-profit association dedicated to corporate renewal and turnaround management. With international headquarters in Chicago, TMA's 6,500 members in 32 regional chapters comprise a professional community of turnaround practitioners, attorneys, accountants, investors, lenders, venture capitalists, accountants, appraisers, liquidators, executive recruiters and consultants. Members adhere to a Code of Ethics specifying high standards of professionalism, integrity and competence. Its Certified Turnaround Professional (CTP) program recognizes professional excellence and provides an objective measure of expertise related to workouts, restructurings and corporate renewal."

(Source: Turnaround Management Association)

The South Africa Affiliate created this Balanced Scorecard:

TMA-SA consolidated balanced scorecard

Perspective Category


KPI / Initiative Target


Financial Revenue growth External funding Sponsorship income R90 000 Director: Sponsorship
Sponsorship strategy March 2006 Director: Sponsorship
Internal funding Membership income As per budget Director: Membership
Build the franchise Income from social and educational events As per budget Director Programmes Director: ACTP Relations and Education
Productivity Adhere to flexible cost budget Budgeted cost As per budget Each executive director
Customer Members Retain membership Annual renewal rate 95% (40 members) Director: Membership
Grow membership Membership growth 5 new members per month (60 in total) Director: Membership
Capital providers - debt and equity 25 members out of 100 Director: Membership
Delight members Member satisfaction survey 80% on year-end survey Director: Membership
Internal Innovation processes Determine policy with regard to Pro Bono Activities Recommendation regarding Pro Bono Activities January 2006 Director: Pro Bono Activities
Forge alliances with other associations Forge alliances with other associations 2 alliances CEO
Improve value for money from TMA International Implement licensing arrangement 1 January 2006 Deputy-CEO
Operations management processes Establish financial member management system Establish invoicing and fee collection system 1 January 2006 Treasurer
Establish member database Establish member application form and database 1 January 2006 Director: Membership
Establish TMA-SA brand Stationary branding - logo, letterhead 1 January 2006 Director: Public Relations
Promote members' services Include member profiles on web site March 2006 Director: Web site
Establish turnaround knowledge database Establish turnaround knowledge database March 2006 Deputy CEO
Facilitate networking Networking events 1 event every 2 months Director: Programmes
Facilitate professional development Recommendation regarding ACTP programme January 2006 Director: ACTP Relations and Education
Educational events 1 event every 2 months Director: ACTP Relations and Education
Educational article publication 1 every month Director: ACTP Relations and Education
Timeous information Meeting minutes 1 week after meeting Secretary
Monthly accounts 1 week after month-end Treasurer
Report to TMA International 10 June Secretary
Customer management processes Promote the TMA Marketing strategy March 2006 Director: Membership
Public relations strategy March 2006 Director: Public Relations
Press releases 1 every 3 months Director: Public Relations
Update web site Continually Director: Web site
Publish newsletter 4 quarterly issues Director: Newsletter
Promotional article publication 1 article per quarterly issue of TMA International newsletter Director: Public Relations
1 article per quarter in non-TMA publications Director: Public Relations
TMA members speaking at lectures, seminars and conferences 4 non-TMA or TMA co-hosted events per annum Director: Public Relations
Event attendance 80% of networking and educational event Director: Membership Director: Public Relations
Visit and letters of introduction to government and industry bodies March 2006 CEO
Position TMA with regards to new business rescue legislation Report back monthly Director: ACTP Relations and Education
Develop promotional material 1 January 2006 Director: Membership
Improve service to members Understand needs of members Bi-annual members' needs survey CEO
Appoint Administrator January 2006 CEO
Establish Cape Town office March 2006 CEO
Regulatory and Social Processes Be a good corporate citizen Pro Bono assignments 2 assignments Director: Pro Bono Activities
BEE membership 33% BEE membership Director: Membership
33% of 2007 board of directors CEO
33% of 2007 Exco CEO
Female membership 10% female membership Director: Membership
Learning and growth Human capital Establish best practice knowledge sharing Establish knowledge management system for own function June 2006 Each executive Director
Attend TMA International board meeting 1 visit per annum CEO
Communicate with TMA International 80% of scheduled monthly conference calls CEO, Deputy CEO, Secretary, Directors: Membership, Programmes, Public Relations
Information capital Develop newsletter template Newsletter template done March 2006 Director: Newsletter
Maintain web site technology Web site technology Continual Director: Web site
Establish independent web site Independent hosting of web site March 2006 Director: Web site
Organisational capital Retain service of board members Annual retention rate 90% Chair
Achieve full board participation Board meeting attendance 90% Each Director
Achieve full exco participation Exco meeting attendance 90% Each Exco member
Maintain high ethical standards Member transgressions of Code of Ethics 0% CEO
Strategic alignment Maintain own functional balanced scorecard Monthly Each executive Director
Track & consolidate balanced scorecard performance Monthly Deputy CEO
Delight fellow board members Peer review 75% on bi-annual peer review Each executive director