Air Canada Risk management.(can you please answer in 2000 words)

Read the following case study from the coursepack and answer questions at the end:

Wood, D., & Dunbar, C. (2010). Air Canada Risk management. Ivey Publishing.

1. Assess the general business environment, current corporate strategy, and possible future challenges.
2. Identify the most relevant sources of financial risk, and examine how these are being managed today. Include a description of the risk, a sensitivity analysis based on your forecast for the risks identified, and any other relevant information.
3. How are Air Canadas largest competitors managing financial risk? Do their risk management practices create a competitive advantage or disadvantage, based on your forecast?
4. What recommendations would you make to the board of directors, based on your analysis?

Step 1. Define the problem (15%)

Be sure to identify the problem and not the symptom of a problem. For example, a decline in sales is a symptom of a problem; you must identify the actual cause of the decline in sales.

Step 2. Formulate alternative solutions and evaluate each alternative (30%)

It may be helpful to brainstorm as many solutions as you can and then narrow your list down to three or four solutions you feel are the strongest.

To evaluate alternative solutions, you should consider their strengths (e.g. increased productivity) and their weaknesses (e.g. increased cost).

Step 3. Recommend and justify an effective solution (35%)

Be sure to record the reasons why the chosen solution is most effective. In your Case Analysis you must provide a recommendation that is supported by your analysis.

Note: Your analysis may require that you identify more than one problem and develop a set of recommendations.

Step 4. Conclusion and circumvention of potential problems (20%)

Summarize the case and key findings. If there could be problems with your recommendations, state them. As well, suggest ways to overcome these problems A contingency plan to address potential difficulties