In just 15 years, TMA\'s growth in numbers and accomplishments in fulfilling its mission of membership service and management excellence is impressive. This timeline provides a perspective on how far TMA has come and how it is positioned for dramatic growth in the future. 1987 A research study on business failure and the turnaround process is sponsored by the Frank Hawkins Kenan Institute of Private Enterprise at the University of North Carolina. This study was followed by a university conference inviting national turnaround experts to share experiences, leading to interest in establishing an organization for turnaround professionals.