Question $2(10$ Marks$)$

AMAKE Ltd$.,$ a growing e$-$commerce platform, is experiencing rapid expansion into international markets. However, with this

growth comes increased exposure to risks such as currency fluctuations, regulatory compliance issues, and logistical

challenges in new territories. Despite recognizing these risks, the company lacks a structured risk management framework.

Required

As their risk consultant, design a step$-$by$-$step plan for implementing ERM tailored to their business model. Use a

hypothetical example to illustrate how each step could be applied to address a specific risk.