RISK-BASED METHODOLOGY
The risk assessment framework closely incorporates the concepts of risk and control. The
Schwan Food Company establishes business objectives at all levels of the company, from the
corporate level down through each business unit. To achieve these objectives, the company puts in
place core business processes, which are groupings of related business activities (e.g., procure
materials, manufacture products, distribute products, sell products, serve customers). The core
business practices are upheld by support processes that provide resources and services to the core
business processes. Risks threaten the achievement of business objectives at all levels, while