Essay About Food Industries And Fast-Food Industry

Operational Risk Management in Food Industries
[pic 1][pic 2][pic 3][pic 4][pic 5][pic 6]TABLE OF CONTENTSOverview –Fast-food Industry ————————————————————-2Selected Approach – COSO ERM Integrated Framework —————————  3 – 5Methodology and Analysis ————————————————————– 6 – 7Risks Appetite —————————————————————————— 8Risks Identified—————————————————————————– 8Qualifying Criteria ——————————————————————–  9 – 11Conclusion ———————————————————————————- 12Appendices ——————————————————————————— 13Table 1 – Risks Assessment  ————————————————————— 13Table 2 – Impact Definitions————————————————————— 14Fig 1.3 – Risk Response chart ————————————————————-  15Fig 1.4 – Impact and Likelihood chart—————————————————–  15Table 3 – Sample procedure for “food Safety” ———————————– — 16 – 17References ——————————————————————————— 18 OVERVIEW FAST-FOOD INDUSTRIESLiving 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)