Kellogg's Risk Assessment

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  • Topic: Internal audit, John Harvey Kellogg, Will Keith Kellogg
  • Pages : 4 (1377 words )
  • Download(s) : 24
  • Published : January 24, 2013
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KELLOGG’S
Many inventions are discovered by accident and that is the case of Kellogg’s. In 1898, W.K Kellogg and his brother Dr. John Harvey Kellogg attempted at making granola and failed but their failure led to flaked corn which then became Kellogg’s Corn Flakes. Kellogg’s Company engages in the manufacture and marketing of ready-to-eat cereal and convenience foods. The company’s success is due to the continuous improvement in the product line to adapt to changes in consumers’ taste.

The company’s purpose is to do more than simply offer products beneficial to the consumers. The company is always seeking ideas to improve the customer’s experience of consuming the product through the packaging, graphics, and labels. Kellogg’s’ vision is to “enrich” and offer products that are more environmentally friendly and satisfy the world through foods that matter. Kellogg’s’ activities in the United States are subject to regulations. Some of the government agencies that regulate Kellogg’s include the Food and Drug Administration, Federal Trade Commission and the Departments of Agriculture, Commerce and Labor. The company’s facilities are subject to various U.S. and foreign, federal, state, and local laws and regulations regarding the release of material into the environment and the protection of the environment in other ways. Kellogg’s has an Emerging Issues Team that helps keep their Executive Leadership Team up-to-date of evolving health, nutrition and food safety issues that could potentially impact the consumers and business. In addition, the Crisis Incident Management Team evaluates and manages incidents that can have a high impact on the business such as natural disasters, product recalls and health epidemics. Kellogg’s has a Social Responsibility and Public Policy Committee whose duty is to oversee all aspects of their corporate responsibility approach. The audit Committee is composed of four non-management Directors and they meet with management,...
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