Social media is the modern Pandora’s box: it has had a meteoric rise as a tool to interact and engage with customers, but also a dark underside exposing companies to new types of risk. Almost two-thirds of companies surveyed say that social media is a significant or critical risk to their brand reputation, yet 60% of companies either never train their employees about their corporate social media policies or do so only upon hiring. This report outlines how to be more proactive about managing social media risk through following a detailed four-step process: Identify, Assess, Mitigate, and Evaluate.