Answer:
C.establishing a clear purpose.
Explanation:
In the writing process, you must first understand WHAT you are writing about, and be able to let the writer know what your point is, before you can continue with your essay. Without a clear purpose, there would be no thesis, and without a thesis, you wouldn't have anything to research about. With nothing to use to research with and write the essay, then you wouldn't even need to consider the length of the text in the first place.
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I think it’s D, because “foreign exchange risk” does not say anything about the MNC, and a fixed exchange rate doesn’t cause that much of a problem. I might be terribly wrong.