1. Explain and discuss the traditional methods of new venture evaluation: profile analysis, feasibility criteria approach, and comprehensive feasibility method. Why are these called "traditional?" Contrast the "traditional" methods with the "contemporary" methods of new venture evaluation: design methodology and the lean start-up methodology.
2. Are both the COSO's internal control framework and enterprise risk management framework needed? Do both frameworks add value to organizations? Justify your responses in 250 words.