What is Social Capital? Meaning.
Social Capital is an umbrella term used to broadly indicate the total value to an actor (organization or person) produced by the cumulative social relationships and connections of this actor.
We can distinguish between social capital at a personal level, at the organizational level (department, business unit, entire organization), and in social networks such as Facebook, Twitter and 12manage.
The Value and Effects of of Relationships
The value of relationships lies in its ability to provide access to a range of resources, such as:
Evidence of social capital can be seen in trust relationships, in the establishment of effective personal networks, in efficient teamwork, and in an organization's exercise of Corporate Responsibility.
Social capital is certainly a durable and productive asset. But the analogy
with capital is misleading to the extent that, unlike traditional forms of
capital, social capital is not depleted by use, but in fact depleted by non-use.
In this respect, it is similar to the concept of
Social capital, like intellectual and emotional capital, belongs to the Intangible Assets of an organization (or actor). It is a form of capital which can be considered an asset as it is a factor for the success of an organization (or actor).
While in human capital the value is found in attributes of the person himself or herself, in social capital the value or success is a consequence of the relationship of the human with other people. This also means that social capital is fundamentally not owned by the actor, but rather by the actors jointly.
Components of Social Capital
Key components of social capital are:
Concepts Behind Social Capital
To appreciate the meaning of social capital, it's useful to consider 3 concepts that are underpinning it:
Compare with: MAGIC | Organizational Learning | IC Rating | Balanced Scorecard | Intangible Assets Monitor | Organizational Memory | Knowledge Management (Collison & Parcell) | Edvinsson’s Skandia Navigator | Sveiby’s Intangible Assets Monitor | M'Pherson's Inclusive Value Measurement | IC Rating | Amortization | Tangible Assets | Tacit Knowledge | Relational Capital | Tertiary Sector | Sustainable Competitive Advantage | 4 Dimensions of Relational Work | Customer Relationship Management
This ends our Social Capital summary and forum.
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