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The European Bank announces the launch of the TurnAround Management (TAM) Programme for Eastern/Central Europe
The European Bank for Reconstruction and Development has agreed to manage the TurnAround Management Programme (TAM) for Eastern and Central Europe on behalf of the United Nations Development Programme ("UNDP").
TAM aims to address the key issue in the privatisation and restructuring process in Eastern and Central Europe, namely management. The Programme will recruit successful, experienced, "hands-on" senior managers from western Europe, the Americas and Japan, to form TAM Teams. The Teams will work one-to-one with the chief executives of carefully selected, viable enterprises in the region for an extended period of time. The assistance will be "on-site", dealing with strategic and day-to-day issues and it will aim to have an immediate impact by addressing the central issue of leadership.
Each TAM Team will act as a close personal advisor to the chief executive and his management team, to advise, support, motivate, challenge and help them to cope with the rapid change inevitable in a free market environment. These Teams will also facilitate the link of these enterprises with potential foreign customers, suppliers, investors and other sources of finance.
The goal of the TAM Programme will be to help create profitable, stand alone private enterprises in eastern and central Europe in the shortest possible time.
The Programme will start with about 40 enterprises in its first year of operation and in the next few years it expects to assist over 500.
The TAM Programme has been developed by UNDP in co-ordination with the European Bank and in consultation with the European Community (PHARE Programme), business and academic leaders, and eastern and central European governments. The UNDP, the European Bank, the European Community (PHARE Programme), together with the Austrian government, are participating in the funding of the Programme.
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