Volkswagen, H&M, Samsung and Caterpillar are large multinational companies that are headquartered in one country and report their annual profits under the rules of that country. Their success is based on selling goods into foreign markets and generating revenues in these foreign countries. However, this success brings risks. Each of these companies faces foreign exchange risks. (a) Identify and discuss the sources of foreign exchange risk that these companies and similar companies face, discuss in general how they manage that risk, and examine the effects for a company like Ryanair (a large European budget airline business) if they did not hedge any forex exposure and the other major airline companies did.