Question 1.2 - Social Capital

Question 1.2:

Definition:

According to dictionary.com social capital is defined as the interpersonal relationships, institutions, and other social assets of a society or group that can be used to gain advantage” or it is defined as by the British dictionary “the network of social connections that exist between people, and their shared values and norms of behavior, which enable and encourage mutually advantageous social cooperation.”

Organizations such as Facebook, Airbnb and Uber have harnessed social capital to grow their market shares. Due to the connections that everybody has online. The connections and shared values that exist between people and enable cooperation. This allows users to continuously see what is available and how to use these Organisations for personal benefit.

As a digital citizen, gaining social capital will help you build visible networks and connect you to influencers, thus allowing multiple opportunities to arise.

How to build a strong social capital: 

1. Network proactively: Networking proactively provides the advantage of support by maintaining people on your social outlets, that are willing to help you and create opportunities for you. Forbes
2.  Be strategic: ensure relationships online are maintained and are built on a strong foundation. These relationships can help you advance your career if you keep in contact with the appropriate people.
3. Create a diverse network: in order to create a diverse network, one needs to step out of ones comfort zone. The most important part of the network is searching for people that will help you develop your career. Although your network can be filled with people you do not know, it is important to show them who you are on your profile.
4. Leverage relationships: you need to determine which people are willing to recommend you to others, and these people will be strong influences and hold strong relationships. It is important to build relationships with these people but you must also be in the position to help them too.
5. Maintain your network: set aside a specific time to work on your network and maintaining it.Look for new people and help others. Always keep your content fresh and updated, it reminds users hat you exist and what you are capable of.
6. Keep in touch with former colleges, although it is important to build new relationships, it’s ultimately more important to maintain the ones that you have. The people that have known you for a long time, may also help open doors for you.
7. Focus on your social networking efforts: there are many distractions on social networks, only speak to people you deem appropriate to help you develop your career. Avoid distractions and maintain focus (Forbes, 2014)