Task 3 Identifying risk and applying risk management processesGeorge and Mildred have become very concerned about the potential risks that could jeopardize & MB's business operations. They were very impressed with your growth and marketing plans for CCF & MB so they have now moved you into more of a general manager's role with expanded responsibilities, including managing CCF & MB's risk.1.As part of your new responsibilities you are required to develop a risk management plan which:Establishes the context for CCF & MB's risk management plan.Lists and explains the tools you will use in assessing the risks you identify.Identifies the stakeholders you would consult in establishing context and the tools you would use in identifying CCF & MB's risks.Identifies at least two risks that CCF & MB could face for each of the six categories of business risk including strategic risks, compliance risks, financial risk, operational risks, market and environmental risks and reputational risks with an appropriate risk statement for each identified risk.Note: You may make any assumptions in producing your plan, but these should be documented either in the body of your plan or separately before you produce it. You are not permitted to simply answer the points detailed above.