Question 1.2.
The OECD describes Social Capital as “…the links, shared
values and understandings in society that enable individuals and groups to
trust each other and so work together.”(oecd: undated). In short social capital as a concept refers to
the potential inherent in one’s social relationships. This concept is
encapsulated in the common and oft-repeated phrase; “your network is your net-worth.”
It views relationships as the true measure of an individual’s worth.
Bonnie Marcus identifies 7 ways in which an individual can
increase her social capital (Marcus: 2014):
1.
Network proactively
2.
Be strategic
3.
Build a diverse network
4.
Pay it forward and leverage relationships
5.
Set aside time for networking each week
6.
Keep in touch with former colleagues
7.
Focus your social media networking efforts
It is increasingly important to have a focussed social
capital effort in the fast paced age of social media. This can be the
difference between success and failure. Even at the individual level, a well-qualified
individual with poor social capital can miss out on opportunities that are
taken up by less qualified people with strong social capital.
References
https://www.forbes.com/sites/bonniemarcus/2014/10/20/your-network-is-your-net-worth-7-ways-to-build-social-capital/#3379f186af77 (Accessed on 15/09/2019)
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