Sydney Ivf - Stem Cell Research
Autor: stacey • November 10, 2013 • Case Study • 1,960 Words (8 Pages) • 2,099 Views
Case Study 1
Sydney IVF: Stem Cell Research
October 1, 2013
Executive Summary
This report discusses how the company Sydney IVF grew from a small in vitro fertility research group to become a world leader in the field and how they are expanding into the related field of stem cell research. Risk Management was of great importance as the company developed in this controversial area.
This report discusses the company’s risk management strategy and how they developed policies and procedures to navigate through risk. There are several layers to the company risk management strategy which includes day to day policy, board level concerns, enterprise risk, and signoffs by the audit committee. A risk register which identified the risks inherent within each line of business was developed and used by a risk management committee. The four areas of risk that are included in their policies and procedures are Knowledge Risk, Financial Risk, Reputation Risk, and Operational Risk.
Table of Contents
Executive Summary i
Table of Contents ii
Introduction 1
Statement of Situation 1
Analysis 2
Action Plan 5
Conclusion 5
References 6
Introduction
Sydney IVF Limited is an Australian research based in vitro fertilization and stem cell company which was founded in 1986. The controversial nature of the industry required that the company manage financial, operational, knowledge, and reputation risk to allow the company to grow and create a successful enterprise. Jansen summarizes the budding company's initial goal as follows: “We began research right away but we imposed two conditions. All our research had to benefit patients and all out research had to pay off within two to three year.”
Initially, Sydney IVF was focused primarily on fertility treatments but has evolved to include stem cell research with the hopes of providing cures for degenerative diseases like Huntington’s. Beginning in 2004 the stem cell and research division, including the Stem Cell Company, was responsible for all of Sydney IVF’s
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