The cliche "It's not what you know, but who you know." seems to be more relevant in the ever increasingly connected world with web tools such as Plaxo, LinkedIn, etc. becoming ever more popular. Regardless of the tools available, "social networking" is becoming ever more important and especially given the potential of the "social capital" gained by having an extensive network. Social capital is simply the resources available in and through social (business and personal) networks including information, ideas, leads, business opportunities, power, influence, support, trust, etc. Some people have also called these shared assets.
There are those who believe in the myth of individualism in which everyone succeeds or fails on the basis of an individuals own abilties and efforts. However research, and certainly my own experience, shows that having a strong social network (and the corresponding social capital) increases the chance of getting a job, pay and promotion, influence and effectiveness, etc.
People are often surprised when the spend a little time thinking about who is in their network including family, friends, team members, employees, managers, partners, customers, admins, etc. Looking at who you interact with frequently, who are you dependent on, who is dependent on you, and who you just like hanging out with is another way to generate the list. Finally and most importantly thinking about who should be part of your network and pursuing those connections will even further expand the social network.
If you want to read more on the topic I can recommend "Achieving Success Through Social Capital" by Wayne Baker.
Social Networks and Capital...
The cliche "It's not what you know, but who you know." seems to be more relevant in the ever increasingly connected world with web tools such as Plaxo, LinkedIn, etc. becoming ever more popular. Regardless of the tools available, "social networking" is becoming ever more important and especially given the potential of the "social capital" gained by having an extensive network. Social capital is simply the resources available in and through social (business and personal) networks including information, ideas, leads, business opportunities, power, influence, support, trust, etc. Some people have also called these shared assets.
There are those who believe in the myth of individualism in which everyone succeeds or fails on the basis of an individuals own abilties and efforts. However research, and certainly my own experience, shows that having a strong social network (and the corresponding social capital) increases the chance of getting a job, pay and promotion, influence and effectiveness, etc.
People are often surprised when the spend a little time thinking about who is in their network including family, friends, team members, employees, managers, partners, customers, admins, etc. Looking at who you interact with frequently, who are you dependent on, who is dependent on you, and who you just like hanging out with is another way to generate the list. Finally and most importantly thinking about who should be part of your network and pursuing those connections will even further expand the social network.
If you want to read more on the topic I can recommend "Achieving Success Through Social Capital" by Wayne Baker.
Posted on: Mar 30, 2006
Posted by: darrin
Category: Management
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