Ridsdale acknowledges he made mistakes towards the end of his five-and-a-half year reign but is confident he has learned from those errors during his five months away from the game.
During that time Ridsdale has looked into acquiring Queen's Park Rangers and Oldham before managing to buy Barnsley at the second attempt in a deal understood to be worth in the region of £5m.
"I want to do the right thing collectively for Barnsley Football Club," said Ridsdale.
"There are occasions when people sit down and say they won't hold a post mortem and look back and then, over the next few months, do exactly that. I won't be.
"I will privately learn from the things I think I didn't do particularly well and I will try and put back into practice the things I think I did do quite well and for the success of Barnsley Football Club.
"This is the chance for me to get back into football with a club that has an outstanding opportunity to certainly get back into the First Division, hopefully sooner rather than later.
"If we could ever get back into the Premiership, then that's a wonderful thought, but we are currently still in administration and we have a squad we cannot add to because of that.
"So first things first, we have secured the future of Barnsley Football Club and that's what this is all about."