By Roy L. Wesley
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Additional info for A Guide to Internal Loss Prevention
S . International Trade Commission, 701 Ε St. N W , Washington, D . C . 20436. 46 A Guide to Internal Loss Prevention This effort is no longer considered to be a technology drain, but rather a technology hemorrhage. Because the United States takes pride in maintaining a democracy with academic freedom and promotion of free trade, it is difficult if not impossible to establish a foolproof control system for technology export. S. government does not have a well-defined, centrally directed, totally comprehensive system for ensuring control over all sensitive technology that might have military application.
Usually it describes the property that is covered. What Losses Are Covered? It is essential to define what losses are covered: a. b. c. Direct loss is usually expressed as the physical loss or damage to an object covered. Loss of use is reduction of net income due to the loss of use or damage or destruction of an insured object. Extra-expense losses or indirect losses are administrative expenses involved related to legal action and medical care. What Persons Are Covered? This section clearly defines the named insured or his representatives.
When a mechanic needs a part, either for work or for home, he strips the equipment. Others, seeing that no one is protecting the already partially stripped equipment, also decide to take parts. Before you know it, all that is left of a perfectly good piece of equipment is the frame, which now has little or no value. W h o is to blame? Many people—the manufacturing department, for not notifying asset accountability about the equipment sidelining; and management, for neglecting to take steps to sell off the equipment while still salable, and management for failing to protect this valuable asset.
A Guide to Internal Loss Prevention by Roy L. Wesley