Individual Project 2: Enterprise Risk Management
Ashley Jonsson
BUSI 601
Liberty University
October 5, 2014

MEDA AB and Enterprise Risk Management
MEDA AB is an international specialty pharmaceutical organization with its headquarters set in Stockholm, Sweden. MEDA specializes is offering cost effective pharmaceuticals in areas such as respiratory, cardiology, dermatology, pain and inflammation, central nervous system (CNS), and over-the-counter (OTC) medicines (MEDA AB, 2012, p. 18). MEDA’s vision is to “become a world-leading specialty pharma company with a focus on sustainable and profitable growth to provide value for our patients, shareholders and other stakeholders” (MEDA AB, 2014, para. 1). MEDA is currently present in about 60 countries and is staffed with over 3,000 employees (MEDA AB, 2014, para. 1). This purpose of this paper is to discuss a specific contemporary management technique that MEDA is not actively using at this time but could benefit from its implementation. The contemporary management technique chosen for MEDA is the use of enterprise risk management (ERM).
Rationale for selecting enterprise risk management MEDA is a very large global organization and as such it is “important for global organizations to think about country-specific treatment of risks,” and to gain an understanding of how to control these risks in a manner that will allow them to align risks “with their business strategy, develop an overall approach to how they define, establish oversight for, manage, and monitor events within their corporate boundaries” (Abrams, J, Pfitzmann, & Ruschka-Taylor, 2007, p. 221). It would not be true to state that MEDA does not recognize the importance of risk management. MEDA does view risk management as a critical aspect of their success and has even chosen a business model to most effectively reduce the amount of risk that