INSTRUCTION- provide precise answers for the following three questions

1. Do you (or your company as a whole) tend to view risk only as a threat to be guarded against? Or do you feel you take a more balanced view and look also for opportunities? Discuss your views.

2. On a personal level, we all have different perceptions of risks but on the broader scale they will often be grouped under one of several headings. Describe the nature of the following major categories of risk.

(1) Financial Risks

(2) Political Risks

(3) Environmental Risks

3. On a business level, a systematic, ordered approach to identify and assess risks is called for. There are essentially three initial and vital stages: (1) Identify the Risks (2) Estimate the Risks (3) Risk Evaluation

Discuss each of the three steps of risk management process.