Unit 6 Q1] What is risk treatment? What is competitive advantage and disadvantage? Why it emerged as a factor? Ans:- According to its definition, Risk Treatment is the process of selecting and implementing of measures to modify risk. Risk treatment measures can include avoiding, optimizing, transferring or retaining risk. Risk Management is the path to sustainable competitive advantage. Successful decision makers recognize that the future is uncertain. They consider the different potential outcomes and make choices today which favor the likelihood of beneficial outcomes in the future. This is risk management. Effective IT- enabled organizations now quickly absorb emerging technologies, not to gain or maintain the traditional competitive advantage, but to avoid the possibility of losing market share when faltering systems make it impossible to maintain the current standard of service. As shown in Figure after the risk management (RM) process team has identified, analyzed...