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Business Planning and Entrepreneurship by Michael Kraten

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Chapter 19

Internal Control Activities

About This Chapter

Chapter 19 completes our review of the risk management section by focusing on its third and fourth activities—in other words, the activities of crisis prevention and response. Organizations need to focus their risk management activities on preventing crises from occurring and, if they fail to do so, on responding in a timely and effective manner in order to minimize damage.

Thus, in this chapter, we describe how prevention controls, detection controls, and response capabilities can be implemented to address these issues. Such activities are required in order to maximize the probability that entrepreneurs will be able to achieve the goals that are described in the business model, volume ...

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