12.1 DEFINITION OF WORKING CAPITAL12.2 ASSESSING WORKING CAPITAL THROUGH THE BALANCE SHEET12.3 WORKING CAPITAL RATIOS12.4 WORKING CAPITAL CYCLE12.5 WORKING CAPITAL VS. FIXED CAPITAL12.6 WORKING CAPITAL BEHAVIOUR12.7 WORKING CAPITAL, PROFITABILITY AND CASH FLOWS12.8 WORKING CAPITAL RISKS12.9 IMPACT OF WORKING CAPITAL RISKS12.10 WORKING CAPITAL RISK MITIGANTS12.11 WORKING CAPITAL FINANCINGQUESTIONS/EXERCISES