Iscuss the four core strategies that underpin the modern concept of Risk Management and Control. Relate these core strategies to practical security.

The paper subject is Security and Risk Management. Essay should be 1.5 line spaces between the lines. Essay should be between 1000 to 1200 words, bibliography does not count towards the words limit. First page should be the title page and the essay should start from second page.
Out of the four core strategies of Risk Management (Risk Avoidance, Risk Transfer, Risk Retention and Risk Reduction), please give more importance to Risk Retention and Risk Reduction as these are more important in practical security.

Referencing Requirements:
Please use harvard system of referencing with a bibliography at the end.