Managing Risk through Research and Development

Jansen and Risk

As the CEO of Sydney IVF, Jansen managed the company's risks by focusing on staying at the forefront of scientific knowledge through research and development. He also used corporate governance standards to oversee profit growth. On top of this, he emphasized ethics in the workplace and in business practices to reduce the risk of problems arising via fraud. Finally, he made it a point to serve the community to ensure stakeholder satisfaction on that end. All of this contributed to a good management of the company’s various risks (Simons et al., 2009).

The first step in his approach was to make sure the company had a high degree of scientific knowledge. Jansen put priority on investing in research and development to do so. Thus, Sydney IVF was able to develop new tech and improve its already operational practices so as to make them more effecient. This in turn let the company create services for its patients, which in turn helped it to keep a competitive edge in the market.

Next, Jansen focused on the business side of the company. He implemented corporate governance standards and made sure the company was able to keep a trajectory of long-term profitable growth. He worked with doctors and senior management who had a stake in the company, and with them made sure that their interests aligned with the company’s goals. As important stakeholders, that kept them happy.

Third, Jansen insisted on ethics. He created an independent ethics committee to develop ethical policies for the company's operations. Then, Jansen focused on addressing the needs of the community that the company served. He opened up the company so that it showed to the public in an honest and transparent way, and became more responsive in its dealings with patients. Trust and goodwill with the community was the result.