A U.S.-based company that exports auto parts to Europe notices that the foreign exchange rate between the U.S. dollar and the Euro has tipped into a range that is unfavorable. In the past, the company has neglected to examine this FX risk, but it now wants to analyze the FX risk and establish an FX policy. What are the steps that the company needs to follow to accomplish this goal? What are your recommendations for this company to prevent a profitable transaction to turn into a loss?