Socio-Cultural and Multi-Disciplinary Perceptions of Risk

This is a review of the extant risk theory literature that hypothesizes new cross-cultural perceptions and multi-disciplinary techniques have emerged in risk management practice. Basic concepts in risk theory are introduced and then the generally accepted risk management framework is explained (identification, assessment, planning, and control). Global macro-environment factors and contemporary risk assessment practices are briefly explored. A multi-disciplinary socio-cultural meta-model of risk theory is developed. The paper concludes with ideas and proposes research questions for future studies.