Social Capital Flashcards
social capital refers to?
the total resources, whether actual or potential, that are associated with being part of a strong network of established relationships characterized by mutual familiarity and acknowledgement.
why consider social capital in business start-up or business expansion?
in business we usually only focus on factors of production but social capital in all forms is essential for s business to have different preferences, values, norms and beliefs etc.
Bonding is..?
social capital within a group or community that share the same values, knowledge, beliefs etc
bridging is..?
social capital between social groups, social class, race, religion or other important socio demographic or socioeconomic characteristics
what is social capital made up of?
people - groups of people. you bring all you are into a group
the social structure capital refers to?
value, attitude, norms and beliefs.
is bonding about achieving the collective goal as a communityt?
yes
why is relationship an important aspect for Pacific business value
dictates responsibility as well as responsibility to each other, the ocean, environment, government, and gods
why should you consider all aspects of the Pacific business value?
just because you have the land, money or resources does not mean the local people or people in general are keen. people want to sustain their way of living and don’t necessarily value economic growth.
Social Hierarchical structure
the ranking of group or community members along a valued dimension, with some being more superior than others.
what happens if you don’t follow the Social Hierarchical structure?
they will treat you well but not give you want your wanting. their knowledge is very special to them and they wont just give it to anyone that asks. you need to establish relationships before anything else
can bridging communities be understood as inclusive?
yes
why is it important to understand various types of communties?
we can better understand how social capital is activated, built and reproduced. analyzing different communities helps to understand different mechanisms involved in the formation of social capital
If you want to serve people and meet their needs then you need to… ?
go down to their level and understand their needs and perspectives from where they are at.
leveraging social capital for business ideas involves…
networking, trust and reputation, access to information, support and resources.
