Original Research

A competency framework for the business rescue practitioner profession

Marius Pretorius
Acta Commercii | Vol 14, No 2 | a227 | DOI: https://doi.org/10.4102/ac.v14i2.227 | © 2014 Marius Pretorius | This work is licensed under CC Attribution 4.0
Submitted: 26 September 2013 | Published: 18 August 2014


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Abstract

Orientation: Business Rescue Practitioner (BRP) tasks are complex and involve a wide range of knowledge, tacit skills and experience not accessible to novices.

Research purpose: Competencies required by business rescue practitioners (BRPs) to navigate a distressed venture were investigated. What BRPs actually ‘do’ during a rescue guided the development of a competency framework to inform future qualification guidelines for BRP education and accreditation.

Motivation for the study: To investigate the research question: ‘What are the competencies that underlie the activities of a business rescue practitioner?’.

Research design, approach and method: A modified ‘interview to the double’ (ITTD) process was used to elicit instructions that a BRP would give to an imaginary ‘double’. These instructions were analysed and rated for importance, transferability, knowledge requirement and skills requirement; in conclusion, these instructions were ranked and subjected to a content analysis.

Main findings: Based on the main activities that were derived from the practices and praxis, one assignment and four supra (higher-level) competencies were consequent to the analysis. A BRP able to successfully navigate a distressed venture towards normal operations should demonstrate a high level of competency in sense-making, decision making and integration, achieved through collaboration as the central competency.

Practical implications: Firstly, the study addresses educators’ need for a framework of competencies to guide education. Secondly, it paves the way for the Regulator to develop a qualifications framework for accreditation.

Contribution: The findings gave structure to the competencies underlying the activities of a BRP to navigate a rescue. Pre-business and financial acumen appears limited without these competencies containing insight, experience, intuition, heuristics, tacit knowledge, perceptive induction and more.


Keywords

Business rescue practitioners, turnaround, competency, qualifications, profession, framework.

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Crossref Citations

1. A liabilities approach to the likelihood of liquidation in business rescue
Wesley Rosslyn-Smith, Marius Pretorius
South African Journal of Accounting Research  vol: 32  issue: 1  first page: 88  year: 2018  
doi: 10.1080/10291954.2017.1414350