How Human Resource Managers can deal with Difficult Employees
Introduction One of the key challenges that HR (Human Resource) Managers face in any organization is how they respond to employees violating organizational policies and plain disgruntled employees who are angry with their appraisals and consequent pay hikes and bonuses. Indeed, how astutely and adroitly the HR Managers deal with such employees determines their competency […]
Employer Branding – Definition and Fundamentals
Before we look into what, why and how of employer branding, let’s look at the below table*, containing best companies to work for in various countries. Company Name Country Standout Policies Google (Best company to work for, for the sixth year in a row) United States of America Parental Leave Benefits (New parents, whether male […]
Knowledge Management in the Information Age
Knowledge Management Systems and the Internet We are living in an information age that is characterized by increasing information about everything and anything available anywhere and everywhere. In this context, knowledge management has to be done in a structured and organized manner if redundancies and information overload are to be avoided. The point here is […]
Relationship Building at Workplace – An Overview
Let me first ask you all a question. Where do individuals spend the major part of their day? Yes, it is their respective organizations – a place where people work to earn their bread and butter. Do you think you can afford to have enemies at a place where you spend eight to nine hours […]
Skills that the HR Professionals Need to have to be Successful in the Present Times
The Key Trends that are Upending the Old Order and Resulting in Future Shock The field of Human Resource Management (HRM) is in a flux. With the old ways of doing things becoming obsolete and the new means of success yet to be crystallized, Human Resource (HR) professionals everywhere are feeling the need to reinvent […]
Social Capital is a concept that aims at emphasizing the importance of social contacts between groups and within groups. It primarily means that social networks have a value associated and that they are not always detrimental in nature as previously thought of.
The concept of social capital also stresses that social networks lead to increased productivity in individuals, teams and organizations. This increased productivity can be both financial and otherwise. This means that social contacts can lead to increase in confidence, fulfillment by fostering positive relationships. The essence being that just like any other capital form (human, physical, financial) social capital is also important and beneficial to the sustenance of society.
The term social capital has been used in varied forms in various disciplines. World Bank, for example, uses it to define societal and economic development. Corporate pundits similarly use it to mean an approach of organisation development. Judson Hanifan championed the use of social capital. He used it in his discussions of rural school community centers. He promoted the importance of social intercourse among people for building goodwill and sympathy among fellow members and to promote cooperation.
Later on Jane Jacobs, Pierre Bourdeiu and James S. Coleman contributed from time to time in the development of the concept. Robert D. Putnam worked extensively later and it was his work that extended the idea of social capital to research and policy making discussions.
There can be a multitude of reasons that can act as barriers to social capital creation or development. These factors vary across geographies and cultures. For example in developing or third world countries social networks remain nucleated around family and identity. There is little or no social capital creation across families and castes. This is on account of the mistrust between two families or strata that is detrimental to the very idea of social capital.
There is a strong body of evidence that goes to suggest that social capital leads societies and individuals to prosperity economically and allows the development to be stable. World Bank believes that social capital when utilized properly can enhance the efficacy and sustainability of projects. This they believe can be achieved through a collaboration of communities’ efforts and its ability to work together. It also promotes greater transparency in the overall system, fosters a better bonding and increases the overall accountability.
The concept of social capital has gained significant ground as a means of enhancing overall quality and effectiveness specially those that involve large scale community action. Many organizations have designed practical constructs to make the idea feasible. World Bank, for example, developed Social Capital Implementation framework (SCIF). This was designed to access how social capital could be made use of in operations.
For social capital to be practically feasible it can be broken down into 5 elements both at practical and operational level. They are
These elements are important to the development of social capital and provide guidelines in the area at various levels of operation. By effectively breaking down into these 5 layers, each one can be administered separately and incorporated into operations.
Your email address will not be published. Required fields are marked *
What is Social Entrepreneurship and Why the World Needs More Social Entrepreneurs
February 12, 2025
Who is a Social Entrepreneur ? – Famous Social Entrepreneurs
February 12, 2025
