The Role of Social Capital In the Business Start-up And Essay

The Role of Social Capital In the Business Start-up And Entrepreneurial Development - Essay Example When people work as a group, there are high chances that they will share common understanding towards the goal to be achieved. On the other hand, in can also be seen that â€Å"social capital theory refers to the ability of actors to extract benefits from their social structures, networks, and memberships (Lin, Ensel and Vaughn, 1981; Portes, 1998, as cited in Davidsson and Honig, 2003, p.8). In theory and practice, people use their social structures to determine the things they need in their lives. After deciding what they want, the information is communicated to all members and they are given the opportunity to air their views about the measures that can be implemented in order to transform those ideas into action. All this can happen as a result of social networking where the people exchange their views and ideas such that they can utilise the resources available to transform their lives. There are different types of social networks that exist in different communities. It can be seen that social networks â€Å"provided by extended family, community-based, or organizational relationships are theorized to supplement the effects of education, experience, and financial capital,† (Bourdieu, 1983; Coleman, 1988; 1990; Loury, 1987). It can also be seen that social capital can exist at individual or organizational levels (Nahapiet and Ghoshal, 1998). Individuals in an organization can create links with others so that they can determine the direction to follow when they execute different tasks that are meant to generate wealth. Networks involving family members in business are essential since they promote cohesion among the members involved. Family members as well as relatives have a strong bond among themselves because they... This essay stresses that entrepreneurship is about is about creating wealth by doing something new and/or innovative in order to add value to the society. The underlying themes here include the following: creating wealth, innovation and opportunity. There are different business opportunities that exist in the business environment that are often overlooked by large corporations. Entrepreneurs can identify these opportunities and try to create value to the targeted people. Not all businesses are successful and it can be seen that there are various reasons for this. This paper makes a conclusion that it can be seen that entrepreneurship is mainly concerned with identifying a business opportunity, creating wealth through innovation. As discussed above, it can be observed that this is not an easy feat as many people may think since there are quite a lot of factors that ought to be taken into account. It has also been noted that the aspect of social capital is very important in as far as entrepreneurship is concerned. Social capital is about how people network in order to create value from the resources available. People usually exchange views and opinions through networking and this can help them to generate knowledge which can be transformed into new business ideas. People are likely to be innovative if they share ideas. Thus, it can be seen that social capital is very important to entrepreneurs who want to start new business ventures.

Interpersonal Management Assignment Example | Topics and Well Written Essays - 2000 words - 1

Interpersonal Management - Assignment Example in an independent manner including being aware of how I can be able to manage time, do presentations and express my views and opinions to other people. These skills are vital as they assist in the development of the aspects that a person needs for the workplace in future. They are integral in the development of confidence as well as self-esteem as they allow a person to learn to be assertive and develop an awareness of the needs of other people. The interpersonal skills learnt are also important as far as teamwork and responsibility is concerned as they make it easier for an individual to manage particular situations. The interpersonal skills that I have learnt have assisted me to understand that I should not be judgmental towards other people and to share ideas while working as a team through communicating with each other. All this aspects are integral and important in any workplace, particularly as far as social care is concerned. I have learnt to appreciate the concepts that are necessary for successful and efficient group work and to enjoy group sessions while contributing. I am now more confident that I am able to contribute positively to the success of any workforce while helping others to appreciate the significance of contributing their perceptions and ideas that are relevant to the prevailing situation. I have learnt to understand that every person has a point and there are always people who are willing to learn from what I have to offer. I have developed skills that assist me to work and collaborate with various individuals in different groups where I can listen to the ideas of others w hile giving my own. However, I have also learnt that some people are selfish with their ideas and do not contribute much in a group settings, instead, they soak up information that has been contributed by other people and add their own ideas from there. Knowledge that is acquired from subjects such as social policy and considering the manner in which different policies and