Original Research
A competency framework for the business rescue practitioner profession
Submitted: 26 September 2013 | Published: 18 August 2014
About the author(s)
Marius Pretorius, Department of Business Management, University of Pretoria, South AfricaAbstract
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.
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Crossref Citations
1. The State of Business Rescue Practitioners Professional Accreditation
Onesmus Ayaya, Marius Pretorius
SAGE Open vol: 11 issue: 4 first page: 215824402110503 year: 2021
doi: 10.1177/21582440211050397