1. Identify the issues in the case study.2. Is there anything you’d like to contribute? 3. What are your views in the case study? An example can be seen in the operation of a security-conscious jewelry shop. Customers are allowed into the shop one ata time. They are recorded on CCTV as they wait to enter. Items are held securely, and customers are invited to ask to seespecific items under the suspicious gaze of the shop assistants. Of course, some customers are put off, but equally theshops suffer negligible rates of shoplifting. Contrast this with a supermarket, where there are no barriers on entry andcustomers are allowed to handle all of the items. There is CCTV monitoring the shops, and there are likely to be storedetectives patrolling but the object of the security is to deter rather than to prevent shoplifting. Shoplifting does occur,but at rates that are acceptable to the shop owners. Conversely, few potential customers are put off visiting the shopbecause of the measures.

Q) 1) Identify the issues in the case study? ANS:- In the case study the issues that has been…

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Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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Having a good system of internal controls is essential for businesses to minimise risks, and ensure efficient operations and compliance with relevant law and regulations. However, no matter how good the system of controls, it can never eliminate risk entirely. Identify and explain THREE reasons why this is so.
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