Year: 2024
Type: article
Abstract: It seems that the idea of social capital has become widely accepted in the social sciences.Fundamentally, social capital explains the development of norms, the function of networks, and connections based on reciprocity, trust, and exchange.For both democratic and mechanical reasons, it is relevant to civil society and collective action, and it aims to explain the various spatial patterns of community interaction.It makes sense that social capital would be alluring given its claims and potential for integration (Adger, 2003:389).Investing in social relationships with the hope of future advantages is known as social capital.It is the acquisition and application of resources found in social structures for specific goals.It possesses the characteristics of capital, in which a portion of interest is forfeited now in order to earn more interest later on.Utilizing capital as an input to change it into another good or service is another feature of capital (Fitzpatrick & Akgungor, 2020:4).While the idea of social capital was first applied to the way resources that a person acquired through tight social ties and networked behaviors affected his or her behavior, it has since been expanded to include organizations (micro-macro link).Through a variety of social, cultural, and commercial ties with their constituents, an organization's top managers can build social capital that can be leveraged for the organization's advantage.These include the social and personal ties that managers have with vendors, clients, rival businesses, trade associations, workers, political institutions, government bureaucracy, and community organizations.Through the relational embeddedness function, these relationships can be developed as avenues for the exchange of knowledge, opportunities, and resources that can be advantageous to the business (Acquaa, 2007:5).
Authors: Nagham Rasool Radhi, Laith Shakir Mohsin
Institution: University of Kufa
Language: English
Topic: Social Capital and Networks
Subfield: Sociology and Political Science
Field: Social Sciences
Domain: Social Sciences
Open Access status: bronze
OpenAlex ID: W4406326912