Operational Risk Management in Food Industries
Autor: dylan_22002 • May 18, 2016 • Research Paper • 2,895 Words (12 Pages) • 1,118 Views
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TABLE OF CONTENTS
Overview –Fast-food Industry -------------------------------------------------------------2 |
Selected Approach – COSO ERM Integrated Framework --------------------------- 3 - 5 |
Methodology and Analysis -------------------------------------------------------------- 6 - 7 |
Risks Appetite ------------------------------------------------------------------------------ 8 |
Risks Identified----------------------------------------------------------------------------- 8 |
Qualifying Criteria -------------------------------------------------------------------- 9 - 11 |
Conclusion ---------------------------------------------------------------------------------- 12 |
Appendices --------------------------------------------------------------------------------- 13 |
Table 1 – Risks Assessment --------------------------------------------------------------- 13 |
Table 2 – Impact Definitions--------------------------------------------------------------- 14 |
Fig 1.3 – Risk Response chart ------------------------------------------------------------- 15 |
Fig 1.4 – Impact and Likelihood chart----------------------------------------------------- 15 |
Table 3 - Sample procedure for "food Safety" ----------------------------------- -- 16 - 17 |
References --------------------------------------------------------------------------------- 18 |
OVERVIEW FAST-FOOD INDUSTRIES
Living in the current century, surrounded by modern technologies and inventions, you likely know more about the fast food industry than you realize. If you live in the North America- or pretty much any corners of the world - it’s everywhere. Fast food restaurants, along with fast casual restaurants, make up a segment of the restaurant industry know as Quick Service Restaurants (QSR). This segment accounts for more than 50% of sales in the entire restaurant sector.
However behind such facades, there is the ever changing dynamics within the industry. In these past several years, the industry have witness an absolute explosion of diversity in both restaurant concepts and menu choices. Such evolution reflects an industry that has been responsive to changing consumer tastes as well as entrepreneurs finding niche opportunities to profit. And rest assured - these opportunities still exist in abundance. The fast food industry is not without its challenges, but it’s clearly still possible to profit in the face of them. (Sena, 2016)
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