Question 4 (6 marks) Jackson Fishing Charters Ltd. (Jackson) has been operating five fishing boats (each five metres in length) off the coast of Vancouver Island for the past 16 years. A new annual fishing competition in the area has resulted in increased demand for knowledgeable charter operators. Three new companies have started operating fishing charters using state-of-the-art 10-metre fishing boats featuring all the latest technology. Fred Jackson, the owner of Jackson, needs to decide whether he should change Jacksons business model to compete with the three new companies. Jackson has NOT experienced a decline in business to date, but Fred is concerned that Jackson may NOT be able to maintain its level of sales once the three new companies gain experience. Upgrading to new 10-metre boats would cost $75,000 per boat. Fred is unsure whether the payoff would be worth the risk of the investment and is currently conducting a risk assessment. Required: Briefly discuss the six steps in the risk-management process and provide an example of each step as it relates to Jackson