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Since the late 1980s, social theorists championed for the birth of a new era, in which societies were increasingly exposed to growing global risks. The presence of increasing risks including natural disasters, technological errors, terrorist attacks, nuclear wars and environmental degradation suggests that human beings are becoming increasingly vulnerable. Therefore, an understanding of vulnerability is crucial. Vulnerability is often considered as the potential to suffer from physical attacks. This approach, however, has limited capacity to explain many forms of suffering including not only physical aspects, but also mental, social, economic, political and social dimensions. This chapter draws on the vulnerability literature to present an overarching framework for the book. It starts with an outline of the concept origins, then discusses its relationship with the risk society thesis before forming conceptualisation. The chapter then points out the key similarities and differences between vulnerability and other concepts such as risk, disaster, poverty, security and resilience. The authors rework an existing “security” framework to develop a new definition of the concept of vulnerability. Finally, the authors look into the root causes and the formation of vulnerability within social systems.

Purpose: Risk is a multifaceted concept, and its identification requires complex approaches that are often misunderstood. The consequence is that decisions are based on limited perception rather than the full value and meaning of what risk is, as a result, the way it is being tackled is incorrect. The individuals are often limited in their perceptions and ideas and do not embrace the full multifaceted nature of risk. Regulators and individuals want to follow norms and checklists or overuse models, simulations, and templates, thereby reducing responsibility for decision-making. At the same time, the wider use of technology and rules reduces the critical thinking of individuals. We advance the automation process by building robots that follow protocols and forget about the part of risk assessment that cannot be programed. Therefore, with this study, the objective of this study was to discover how people define risk, the influencing factors of risk perception and how they behave toward this perception. The authors also determine how the perception differed with age, gender, marital status, education level and region. The novelty of the research is related to individual risk perception during COVID-19, as this is a new and unknown phenomenon. Methodology: The research is based on the analysis of the self-administered purposely designed questionnaires we distributed across different social media platforms between February and June 2020 in Europe and in some cases was carried out as a interview over communication platforms such as “Skype,” “Zoom” and “Microsoft Teams.” The questionnaire was divided into four parts: Section 1 was designed to collect demographic information from the participants; Section 2 included risk definition statements obtained from literature and a preliminary discussion with peers; Section 3 included risk behavior statements; and Section 4 included statements on risk perception experiences. A five-point Likert Scale was provided, and participants were required to answer along a scale of “1” for “Strongly Agree” to “5” for “Strongly Disagree.” Participants also had the option to elaborate further and provide additional comments in an open-ended box provided at the end of the section. 466 valid responses were received. Thematic analysis was carried out to analyze the interviews and the open-ended questions, while the questionnaire responses were analyzed using various quantitative methods on IBM SPSS (version 23). Findings: The results of the analysis indicate that individuals evaluate the risk before making a decision and view risk as both a loss and opportunity. The study identifies nine factors influencing risk perception. Nevertheless, it must be emphasized that we can continue to develop models and rules, but as long as the risk is not understood, we will never achieve anything.

Mega construction projects (MCPs), which play an important role in the economy, society and environment of a country, have developed rapidly in recent years. However, due to frequent social conflicts caused by the negative social impact of MCPs, social risk control has become a major challenge. Exploring the relationship between social risk factors and social risk from the perspective of risk evolution and identifying key factors contribute to social risk control; but few studies have paid enough attention to this. Therefore, this study aims to systematically analyze the impact of social risk factors on social risk based on a social risk evolution path.

This study proposed a social risk evolution path for MCPs explaining how social risk occurs and develops with the impact of social risk factors. To further analyze the impact quantitatively, a social risk analysis model combining structural equation model (SEM) with Bayesian network (BN) was developed. SEM was used to verify the relationship in the social risk evolution path. BN was applied to identify key social risk factors and predict the probabilities of social risk, quantitatively. The feasibility of the proposed model was verified by the case of water conservancy projects.

The results show that negative impact on residents’ living standards, public opinion advantage and emergency management ability were key social risk factors through sensitivity analysis. Then, scenario analysis simulated the risk probability results with the impact of different states of these key factors to obtain management strategies.

This study creatively proposes a social risk evolution path describing the dynamic interaction of the social risk and first applies the hybrid SEM–BN method in the social risk analysis for MCPs to explore effective risk control strategies. This study can facilitate the understanding of social risk from the perspective of risk evolution and provide decision-making support for the government coping with social risk in the implementation of MCPs.

This paper aims to discuss the emergence of corporate reputational risk in terms of social media, exploring its threats to and possibilities for organizations' strategic reputation management.

Reputation risk, the possibility of damaging one's reputation, presents a threat to organizations in many ways. Little is known, however, about the connections between reputation risk management and social media as a mediated business environment. Following the latest conceptualizations of strategic reputation management and social media, the paper identifies several challenges for organizations. To make sense of this issue, the paper proposes a novel context for strategic reputation management, founded on the metaphor of ambient publicity, which involves not only social media, but also organizations and their stakeholders.

The paper argues that social media expands the spectrum of reputation risks and boosts risk dynamics, and that social media can have notable effects on corporate‐level strategic endeavors, which must be considered in order to be successful in the modern business environment. Nine tenets for corporate leaders involved in strategic reputation management are presented.

The paper offers new insights on social media's relation to reputation risk and its management. The ambient publicity, for example, has value to leaders involved in strategic reputation management when trying to identify factors characterizing the changing business environment. Understanding ambient publicity as an environment of meaning indicates that organizations, their stakeholders, and the public create a “complex narrative web” surrounding reputation. The more unified this web is, the stronger the organization is in terms of reputation risk.

While memory institutions' use of social media has proliferated, research and scholarly literature on risks, resulting from social media use, memory institutions' social media risk-aware culture and, in particular, social media risk management remains scant. This study addresses this knowledge gap and identifies aspects of social media risk management from other sectors that could inform the cultural heritage sector.

This research involves a review of the scholarly and professional literature that contribute to social media risk management discourses. These include those that discuss the different categories of social media risks, social media policies, risk-aware culture and social media risk management strategies and processes. Works discussing social media risk management models and frameworks are also included in the review. Based on the insights gained from these reviews, a pillar framework to guide social media risk management in memory institutions is developed.

The proposed framework outlines the baseline components relevant for the cultural heritage sector and underlines the evolving and continual nature of these components. Elements particularly important to memory institutions are highlighted. Notably, that social risks as a risk category must be recognised. Also noted is that the conventional apolitical stance still taken by many memory institutions need to be reviewed. The importance of memory institutions to be not overly risk-averse to the point of failing to take advantage of the affordances of social media platforms, thereby stifling potential innovations around services and engagement with their users/audience is discussed.

This research offers an extensive review of the social media risk management literature, both scholarly and professional across different domains. The ensuing insights inform the development of a pillar framework to guide social media risk management in memory institutions. The framework outlines a baseline mapping of the governance, processes and systems components. The expectation is that this framework could be extended to account for contextual and situational requirements at more granular levels to reflect the nuances, variances and complexities that exist among different types of memory institutions and to account for varying attributes, mandates and priorities in the cultural heritage sector.

Managers of megaprojects face social risk management challenges throughout the various design, construction, and operation stages, owing to the various conflicts of interest among stakeholders, public skepticism, and opposition. However, most existing studies have not focused on the dynamic analysis of integrating social risks in these stages. This study developed a dynamic analysis approach to explore the dynamics of critical social risk factors and related stakeholders of megaprojects and built the managerial maps for various stakeholders.

Based on the social analysis network (SNA), a dynamic network analysis approach for understanding the dynamics of social risk and related stakeholders has been developed by literature and case analysis. The approach comprises the following steps: (1) generating social risk–stakeholder networks in different stages; (2) analysis of the critical stakeholders and social risk factors; (3) dynamic analysis of social risk factors; and (4) developing social risk management maps for various stakeholders. To verify the feasibility and effectiveness of the approach, 40 megaprojects from China were analyzed.

According to the results, the local government is a critical stakeholder during all stages, inadequate information promotion (IIP) and imperfect communication and coordination mechanism (ICCM) are key social risk sources throughout the megaproject life cycle. Furthermore, the management maps for government organizations, project implementation groups, and external stakeholders were constructed.

This research has three contributions. First, a dynamic analysis approach of stakeholder-associated social risks in megaprojects is developed, which enriches the social risk management theory of megaprojects and provides inspiration for future research focus. Second, the social risk–stakeholder networks and critical social risks in different stages are confirmed to provide a more valid and accurate picture of social risk management in megaprojects. Third, the social risk managerial maps for different stakeholders built in this research will be beneficial for governments, project implementation groups, and external stakeholders to optimize management strategies.

The purpose of this study is to segment consumers according to their decision-making styles in the context of social commerce. Additionally, the differences among consumer segments in consumer innovativeness, perceived risk, satisfaction and demographic characteristics are evaluated.

A total of 384 respondents who shopped for restaurant deals through social commerce participated in this study through an online survey. Two-step cluster analyses were used to segment social commerce consumers into groups, using their decision-making styles.

The results showed three types of social commerce consumers of restaurant deals: innovative brand-preferring consumers; realistic consumers; and passive consumers. Innovative brand-preferring consumers chose specific brands and showed the most innovativeness, while realistic consumers and passive consumers were price-conscious and far more cautious in purchasing restaurant deals using social commerce. Passive consumers were, in addition, confused by overchoice. All three consumer groups perceived higher risks to privacy in purchases using social commerce. Passive consumers were especially aware of the risk, while the innovative brand-preferring consumers and the realistic consumers were less concerned about risk. Consumers were especially likely to perceive economic risk, performance risk, social risk, psychological risk, privacy risk and time risk. Innovative brand-preferring consumers were more likely to be innovative and showed a higher level of satisfaction, while passive consumers showed the lowest satisfaction and the least innovativeness.

This study provides additional insights on consumer decision-making styles in the context of social commerce in Korea.

Consumer decision-making styles can help restaurant managers to develop deals tailored to specific types of consumers, as well as create customized products and services.

This study is one of the very few attempts to investigate consumer decision-making styles in social commerce for restaurant deals, so it contributes to the literature on social commerce in the hospitality industry. This study shows that consumer decision-making styles are important in understanding the behavior of social commerce consumers.

The purpose of this paper is to investigate how the effects of referral rewards in referral reward programs (RRPs) are moderated through perceived social risk of a recommender.

A total of 717 consumers are accessed through Amazon's Mechanical Turk worker panel. The authors use t-test and analysis of variance to test the proposed hypotheses.

The findings show that consumers with high perceived social risk balance financial rewards with social risks, while low social risk consumers largely ignore these social risk elements surrounding a referral decision.

The inclusion of perceived social risk provides the opportunity to fully understand how a consumer goes about balancing social risk and referral rewards in making referral decisions. The concept of social risk has not been previously applied to this context.

Poverty transitions can be explained by two opposing theories: the traditional sociological approach that focusses on social stratification and individualisation theory, which emphasises on life course risks for all strata. Both perspectives have been investigated extensively for income poverty while neglecting other important poverty indicators, such as deprivation or the receipt of social assistance. The purpose of this paper is to focus on the latter to investigate the impact of social stratification (e.g. social class), life course risks (e.g. health problems), and their interactions on the probability of social assistance entry for Germany.

The analysis utilises survey data containing a sample of first-time social assistance entrants and a sample of the residential population. Applying case-control methodology, logistic regression is conducted to model the impact of social stratification determinants, life course risks, and their interactions on the probability of social assistance entry.

Social stratification determinants, particularly social class, have a significant effect. However, their effect is weaker than the effect of life course risks. Contrary to the prediction of individualisation theory, the poverty-triggering impact of life course risks varies substantially by social stratum. The combination of both theories yields high predictive power.

This paper is the first to comprehensively test social stratification and individualisation theory with respect to social assistance receipt as a poverty indicator. It is the first paper that investigates the entire population at risk of social assistance entry in Germany.

This study aims to investigate the impact of social risk and inter-tier brand competition across traditional retailers and discounters on consumers' purchase intentions in the UK.

The authors conduct a 2 (social risk) × 3 (brand type) × 2 (retailer type) between-subjects design (n = 309; UK) experiment employing a Qualtrics online panel in the UK.

The study shows that while premium private labels (PPLs) are on par with national brands, discounter's PPLs outperform mainstream retailer's PPLs. Furthermore, consumers appear to purchase standard private labels and PPLs for themselves when shopping at a discounter but turn to national brands when shopping for socially risky situations.

While Tesco's premium (Tesco Finest*) and standard private label (Tesco Everyday Value) explicitly make reference to the retailer's name, for Lidl's premium (Deluxe) and standard private label (e.g. Milbona), the discounter's name is not visible. This is something this study did not control for.

Given that Lidl has opened its first US store in 2017 with ambitious expansion plans, our findings provide in particular practical guidelines for how to promote PPLs in countries where the discounter landscape is less saturated than in Germany.

This study provides insights into the understanding of the influence of social risk on purchasing intentions of premium private labels vs standard private labels vs national brands offered by mainstream retailers or discounters in the UK.