Describe the three-component approach to managing policy risk that was proposed by Henisz and Zellner

What will be an ideal response?

The first is to understand the preferences of the actors in the market and nonmarket environments. The second is to have a structure analogous to that of the intelligence community that can provide information and assessments. The four I's provide a framework for identifying preferences and collecting information. The third is to influence the risk through collective action and coalitions.