- Michael Cayley argues that social capital, especially that arising from online relationships, has become a major driver of corporate value in today's networked world.
- He proposes a method called Social Capital Value Add (SCVA) to measure and manage the impact of corporate social capital generated through online interactions between companies and stakeholders.
- While the SCVA method is not fully developed, the paper makes the case that as technology has empowered individuals and expanded online interactions, social capital derived from these networks increasingly influences corporate goals and performance.
Inspiration truly does come in all shapes, sizes and forms – as evident from the stories shared with us by 25 Global Social Business Leaders. Their stories help us better understand how organizations are using social business practices to build a more engaged workforce and develop stronger, more collaborative relationships.
While diverse, all their stories embody personal journeys with one common thread: All of these leaders used social business strategies, technologies, and practices to make a significant impact on their business and community. Through the joint efforts of IBM and the EIU we were able to bring the stories of the 25 Inspiring Global Social Business Leaders to life – giving them a platform to be heard.
Entrepreneuring in Online Social Networks: From Brokerage vs. Closure to Brokerage and Closure
Abstract
This paper takes a structuration view of entrepreneuring in online social networks. Social capital theory informs the idea that network entrepreneurship is a function of brokerage and closure qua agency and structure, respectively. The purpose of this undertaking is to extend existing theory to the emerging phenomenon of network entrepreneuring as it applies to a little understood, yet rich in potential, area of social action, online networking. The importance of this contribution is to extend existing theory to, and indicate the empirical potential of, online social networks, while revealing the entrepreneurship dynamics that are essential to the networks’ formation.
Thinking psychoanalytically about desire in organizations - why we need a 3rd...Boxer Research Ltd
Psychoanalytic understanding has approached the organization as being like the ego in its pursuit of sovereign autonomy, its inter-subjective discursive practices organizing its work in relation to its markets. The corporate entity has been approached as an a priori. Psychoanalytic understanding has addressed the ways in which individuals take up roles within the life of an organization, but not the ways in which an organization may support a multiplicity of roles one-by-one in the lives of its citizen-clients.
The a priori status of the sovereign corporate entity leads to the unconscious being referred to as descriptively unconscious, ‘below the surface’ of the inter-subjective practices it supports. The implication is that what lies ‘below the surface’ can in principle be made conscious. This repressed unconscious is distinct from the wider compass of the radically unconscious. Distinguishing the repressed from this radically unconscious enables us to establish a ‘beyond’ of the libidinally-invested-in identifications supported by the organization. Defenses against anxiety may thus become defenses against a ‘beyond’ of innovation, through which a posteriori organization might support innovative roles in the lives of its citizen-clients.
We need to understand how a radically unconscious valency for innovation becomes realized. This would enable us to address how individuals might support identifications with an organization when it was itself having to innovate continuously ‘under their feet’. Without such an understanding, we can only expect an organization to betray its citizen-clients through serving its a priori interests to the exclusion of ‘others’.
Inspiration truly does come in all shapes, sizes and forms – as evident from the stories shared with us by 25 Global Social Business Leaders. Their stories help us better understand how organizations are using social business practices to build a more engaged workforce and develop stronger, more collaborative relationships.
While diverse, all their stories embody personal journeys with one common thread: All of these leaders used social business strategies, technologies, and practices to make a significant impact on their business and community. Through the joint efforts of IBM and the EIU we were able to bring the stories of the 25 Inspiring Global Social Business Leaders to life – giving them a platform to be heard.
Entrepreneuring in Online Social Networks: From Brokerage vs. Closure to Brokerage and Closure
Abstract
This paper takes a structuration view of entrepreneuring in online social networks. Social capital theory informs the idea that network entrepreneurship is a function of brokerage and closure qua agency and structure, respectively. The purpose of this undertaking is to extend existing theory to the emerging phenomenon of network entrepreneuring as it applies to a little understood, yet rich in potential, area of social action, online networking. The importance of this contribution is to extend existing theory to, and indicate the empirical potential of, online social networks, while revealing the entrepreneurship dynamics that are essential to the networks’ formation.
Thinking psychoanalytically about desire in organizations - why we need a 3rd...Boxer Research Ltd
Psychoanalytic understanding has approached the organization as being like the ego in its pursuit of sovereign autonomy, its inter-subjective discursive practices organizing its work in relation to its markets. The corporate entity has been approached as an a priori. Psychoanalytic understanding has addressed the ways in which individuals take up roles within the life of an organization, but not the ways in which an organization may support a multiplicity of roles one-by-one in the lives of its citizen-clients.
The a priori status of the sovereign corporate entity leads to the unconscious being referred to as descriptively unconscious, ‘below the surface’ of the inter-subjective practices it supports. The implication is that what lies ‘below the surface’ can in principle be made conscious. This repressed unconscious is distinct from the wider compass of the radically unconscious. Distinguishing the repressed from this radically unconscious enables us to establish a ‘beyond’ of the libidinally-invested-in identifications supported by the organization. Defenses against anxiety may thus become defenses against a ‘beyond’ of innovation, through which a posteriori organization might support innovative roles in the lives of its citizen-clients.
We need to understand how a radically unconscious valency for innovation becomes realized. This would enable us to address how individuals might support identifications with an organization when it was itself having to innovate continuously ‘under their feet’. Without such an understanding, we can only expect an organization to betray its citizen-clients through serving its a priori interests to the exclusion of ‘others’.
The Fundamentals of Policy CrowdsourcingAraz Taeihagh
What is the state of the research on crowdsourcing for policymaking? This article begins to answer this question by collecting, categorizing, and situating an extensive body of the extant research investigating policy crowdsourcing, within a new framework built on fundamental typologies from each field. We first define seven universal characteristics of the three general crowdsourcing techniques (virtual labor markets, tournament crowdsourcing, open collaboration), to examine the relative trade-offs of each modality. We then compare these three types of crowdsourcing to the different stages of the policy cycle, in order to situate the literature spanning both domains. We finally discuss research trends in crowdsourcing for public policy and highlight the research gaps and overlaps in the literature.
The Fundamentals of Policy CrowdsourcingAraz Taeihagh
What is the state of the research on crowdsourcing for policymaking? This article begins to answer this question by collecting, categorizing, and situating an extensive body of the extant research investigating policy crowdsourcing, within a new framework built on fundamental typologies from each field. We first define seven universal characteristics of the three general crowdsourcing techniques (virtual labor markets, tournament crowdsourcing, open collaboration), to examine the relative trade-offs of each modality. We then compare these three types of crowdsourcing to the different stages of the policy cycle, in order to situate the literature spanning both domains. We finally discuss research trends in crowdsourcing for public policy and highlight the research gaps and overlaps in the literature.
International Journal of Engineering Research and Development (IJERD)IJERD Editor
journal publishing, how to publish research paper, Call For research paper, international journal, publishing a paper, IJERD, journal of science and technology, how to get a research paper published, publishing a paper, publishing of journal, publishing of research paper, reserach and review articles, IJERD Journal, How to publish your research paper, publish research paper, open access engineering journal, Engineering journal, Mathemetics journal, Physics journal, Chemistry journal, Computer Engineering, Computer Science journal, how to submit your paper, peer reviw journal, indexed journal, reserach and review articles, engineering journal, www.ijerd.com, research journals,
yahoo journals, bing journals, International Journal of Engineering Research and Development, google journals, hard copy of journal
Social Media and Social Media Marketing: A Literature Reviewiosrjce
Social media and social media marketing are sometimes used interchangeably, but two indeed are
different. The purpose of this research paper is to revisit the literature on both concepts and correlates them in
technical terminologies. We have studied the literature available on Social media first and identified the basic
functionalities of it. Then the literature available on social media marketing helped us in identifying its
dimensions. In conclusion section of the research paper we have correlated the two concepts and redefined
social media marketing in technical terms.
Slides from lecture by Paul DiGangi in the Strategy module in the 2011 Media Management Course at Stockholm School of Economics and the Royal Institute of Technology. Here is more information on the course: http://nordicworlds.net/2011/01/21/strategy-course-focuses-on-virtual-worlds-and-gaming-industries/.
Value Creation & the Evolution of Organizational Business ModelsPaul Di Gangi
Presentation by Paul M. Di Gangi on January 31, 2011 at the Stockholm School of Economics in Second Life (SSE Island) for Robin Teigland.
This presentation outlines the key shifts in people, technology, and the economy that have led to the growth of new types of organizational business models and how value can be created.
This presentation is also available here: http://www.slideshare.net/eteigland/lecture-by-paul-digangivalue-creation
Whitepaper: Social Media Influence - Applications, Metrics and TheoryTravis Stephens
TL;DR Social Media influence is largely based upon a peer-presence, as people are the new medium. As a business, utilizing the knowledge that people develop certain control over your brand can be harnessed, as opposed to letting it overpower. Knowing and utilizing your metrics, a business can strategically develop touchpoints to facilitate in steering their audience.
Impact of Social Media on Organizational Culture: Evidence from PakistanMuhammad Arslan
This paper investigates the impact of social Media on Organizational culture. The approach used in this paper
was to give the application and significance of development of Social media for organizations. With an
introduction to social media, organizational culture is focused by studying communication, business focus,
workplace harmony, workplace behaviors, and business discipline. A self-administered survey is used to collect
responses from employees working at different organizations through e-mail and various social media tools. The
main result of the research is the validation of the research framework of employees operating in the SME’s of
Pakistan. It has been found that organizational culture is considerably affected by development and application
of social media for business related activities in organizations.
Impact of Social Media on Organizational Culture: Evidence from PakistanMuhammad Arslan
This paper investigates the impact of social Media on Organizational culture. The approach used in this paper
was to give the application and significance of development of Social media for organizations. With an
introduction to social media, organizational culture is focused by studying communication, business focus,
workplace harmony, workplace behaviors, and business discipline. A self-administered survey is used to collect
responses from employees working at different organizations through e-mail and various social media tools. The
main result of the research is the validation of the research framework of employees operating in the SME’s of
Pakistan. It has been found that organizational culture is considerably affected by development and application
of social media for business related activities in organizations.
"Antenna for Social Innovation: The Quest for Precision"Ginés Haro Pastor
The concept of social innovation is a victim of its own success. It is increasingly being used, appropriated, and diffused by a wide range of public and private organisations keen to highlight the social and innovative component of what they do or what they wish to do. Can we blame them? Certainly not, but we must acknowledge
that the recent proliferation of initiatives and organisations with the label social innovation has generated some confusion that we, from academia, should try to address and, hopefully, help to clarify.
Antenna For Social Innovation: The Quest for PrecisionESADE
The concept of social innovation is a victim of its own success. It is increasingly being used, appropriated, and diffused by a wide range of public and private organisations keen to highlight the social and innovative component of what they do or what they wish to do. Can we blame them? Certainly not, but we must acknowledge
that the recent proliferation of initiatives and organisations with the label social innovation has generated some confusion that we, from academia, should try to address and, hopefully, help to clarify.
An empirical study on the usage of social media in german b2 c online storesijait
Customers in electronic commerce (e-commerce) are shifting more and more from content consumers to
content producers. Social media features (like customer reviews) allow and encourage user interaction in
online stores. An interesting question is, which social media features are actually provided by online stores
to support user interaction. We contribute knowledge to this question, by studying the social media features
of the 115 highest-grossing German B2C-online stores from the years 2010 and 2011. We categorize the
results of the observational study into the seven building blocks of social media to understand what areas
of social media are used the most in these online stores. The results of our study show, that the average
online store implements about five social media features and that the majority of the features are placed on
product pages. The most common features were customer reviews and ratings and the sharing and liking of
product details.
Unpacking the Social Media Phenomenon: Towards a Research AgendaIan McCarthy
In this paper, we highlight some of the challenges and opportunities that social media presents to researchers, and offer relevant theoretical avenues to be explored. To do this, we present a model that unpacks social media by using a honeycomb of seven functional building blocks. We then examine each of the seven building blocks and, through appropriate social and socio-technical theories, raise questions that warrant further in-depth research to advance the conceptualization of social media in public affairs research. Finally, we combine the individual research questions for each building block back into the honeycomb model to illustrate how the theories in combination provide a powerful macro-lens for research on social media dynamics.
Yes of course, you can easily start mining pi network coin today and sell to legit pi vendors in the United States.
Here the telegram contact of my personal vendor.
@Pi_vendor_247
#pi network #pi coins #legit #passive income
#US
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
BYD SWOT Analysis and In-Depth Insights 2024.pptxmikemetalprod
Indepth analysis of the BYD 2024
BYD (Build Your Dreams) is a Chinese automaker and battery manufacturer that has snowballed over the past two decades to become a significant player in electric vehicles and global clean energy technology.
This SWOT analysis examines BYD's strengths, weaknesses, opportunities, and threats as it competes in the fast-changing automotive and energy storage industries.
Founded in 1995 and headquartered in Shenzhen, BYD started as a battery company before expanding into automobiles in the early 2000s.
Initially manufacturing gasoline-powered vehicles, BYD focused on plug-in hybrid and fully electric vehicles, leveraging its expertise in battery technology.
Today, BYD is the world’s largest electric vehicle manufacturer, delivering over 1.2 million electric cars globally. The company also produces electric buses, trucks, forklifts, and rail transit.
On the energy side, BYD is a major supplier of rechargeable batteries for cell phones, laptops, electric vehicles, and energy storage systems.
Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
how to sell pi coins at high rate quickly.DOT TECH
Where can I sell my pi coins at a high rate.
Pi is not launched yet on any exchange. But one can easily sell his or her pi coins to investors who want to hold pi till mainnet launch.
This means crypto whales want to hold pi. And you can get a good rate for selling pi to them. I will leave the telegram contact of my personal pi vendor below.
A vendor is someone who buys from a miner and resell it to a holder or crypto whale.
Here is the telegram contact of my vendor:
@Pi_vendor_247
Abhay Bhutada Leads Poonawalla Fincorp To Record Low NPA And Unprecedented Gr...Vighnesh Shashtri
Under the leadership of Abhay Bhutada, Poonawalla Fincorp has achieved record-low Non-Performing Assets (NPA) and witnessed unprecedented growth. Bhutada's strategic vision and effective management have significantly enhanced the company's financial health, showcasing a robust performance in the financial sector. This achievement underscores the company's resilience and ability to thrive in a competitive market, setting a new benchmark for operational excellence in the industry.
1. Dimitrina (Dima) Dimitrova, Ph. D. Dimitrina (Dima) Dimitrova, Ph. D.
Review of Social Capital Value Add: Value Based Management for the Networked Age
Michael Cayley, BPR, APMCP, MBA
Draft July 29, 2009.
Michael Cayley has a vision: a networked world where Internet links empowered individuals
and enlightened companies and where the connections between them generate social capital. He has
made it his mission to wake up managers and investors to the implications of this new world for
their work. The objective of his paper - “Social Capital Value Add: Value Based Management for
the Networked Age”, is to draw their attention to the rising role of corporate social capital and to
propose a tool for its management.
His work has two distinct parts. In the first part, he develops the argument that social capital has
become the fastest growing driver of value for companies. In the second part, Michael sketches a
method for valuation of corporate social capital - Social Capital Value Add (SCVA). The focus is
on a specific form of social capital, considered most important – social capital arising in the online
relations among individual company stakeholders.
The paper incorporates arguments from the areas of social network analysis; technology and
communications studies; marketing and value-based management. This bridging makes for a
complex discussion that illustrates well both the difficulties and the opportunities of
multidisciplinary work. It also means that the paper is inevitably not an in-depth discussion but
rather a bricolage that draws support from Cayley’s business experience and a wide variety of
sources to serve a particular purpose. A wealth of ideas are put forward in the paper: this review is
limited to the ideas directly related to the concept of social capital.
Part 1: The Importance of Corporate Social Capital
It is worth distinguishing here between established concepts and recent ideas. The
understanding that economic action is affected by the informal relations within and between
organizations is captured in the term “embeddedness” which social scientists have studied for
decades (Granovetter and Swedberg, 1991; Uzzi, 1996). Similarly, the concept of social capital -
the idea that social relations bring benefits, including hard cash - has been around just as long as
“embeddedness” (Burt, 1997; Lin, 1999; Coleman, 1988).
However, the “embeddedness argument” of organizational performance has been at the
periphery of economic theory while social capital has typically been applied to individuals and
communities rather than organizations. It is only recently that academics and practitioners have
started looking at how social capital applies to organizations. To put it differently, the concept of
corporate social capital (CSC) has been slow in coming. When it finally arrived, however, it
became heavily used. Researchers link the concept to strategic management (Leenders et al. 2001),
strategic alliances (Todeva and Knocke, 2001), reputations (Weidman and Hennigs, 2006), and a
host of other issues ranging from R&D collaboration to labour contracts (Leenders and Gabbay,
1999). In short, Michael is in good company, and he is staking his place in a field that is rapidly
being populated.
Part One of the paper demonstrates the importance of specific form of social capital, in which
Michael is interested. All his arguments are familiar from the existing literature but they come from
different fields and are rarely, if ever, put together. The embeddedness arguments from economic
sociology and network analysis start the discussion: economic action is embedded and
1
2. organizational performance is contingent on the characteristics of social networks. One of the ways
to view this impact of social relations on organizations is through the concept of corporate social
capital, which focuses on the resources that are accessed through social relationships and that can
either facilitate or impede the attainment of organizational goals.
The second key argument suggests that broadband technology and the Internet have empowered
individuals and dramatically increased the importance of social capital, particularly social capital
arising online. Technology tremendously expanded access to information. It enabled individuals to
create content online - capabilities previously reserved for broadcasting companies - and thus
expanded their influence over others. In turn, games and recent forms of social networking services
on the Internet increased interaction and the role of online networks in the certification of social
credentials and in the reinforcement of identity and recognition.
Finally, the third argument draws on marketing literature to show that social capital has replaced
brand as the fastest growing source of corporate value. Symbolic branding was important in
conditions when space was limited and communications expensive; its goal was to distill
information and to convey the maximum information in the least amount of space and time.
However, in online marketing space is unlimited and what matters is findability. Symbolic branding
is inappropriate under such conditions. The awareness of these changes has led to memetic
branding, which aims at creating a corporate message that resonates across diverse audiences (or
their idea habitats) and spreading corporate presence online. It is this new marketing strategy that
Michael Cayley links to corporate social capital. In order to be successful in their branding,
companies need to reach their customers and other stakeholders through online social networks.
This is where Michael stakes his claim; this is his niche among researchers and consultants of
social capital. His main focus is on the type of social capital embedded in online relations. The
central concept in his work is scaled-up social capital (SC*), i.e. social capital that is amplified by
broadband and Internet technology. Further, while the consultants trying to put a dollar value on
online connections focus on employees and managers, Michael examines customers and other
stakeholders. He is interested in exchanges and influence processes among individuals who act
simultaneously as producers and consumers. He refers to this social capital as Individual as
Medium (I.A.M.) oriented social capital. His ideas are thus an unusual mix: they highlight the
impact on corporate goals of online rather than traditional face-to-face relations, individual rather
than company level interactions, and outside stakeholders rather than company staff.
Some of the discussion requires more conceptual clarity and precision. For instance, at the heart
of the argument is the concept of corporate social capital, but the term corporate social capital is
never used. Partly, this is because the starting point of the argument is Nan Lin’s (1999) theoretical
framework, and partly because the focus is on individual level activities and interactions that affect
corporate performance and not on group or organizational interaction. As a result, the focus of the
argument and the level of analysis are in places unclear. Such problems might be fewer if the
discussion utilized the conceptual framework of corporate social capital instead of developing the
arguments from the more general concept of social capital (Pennings and Lee, 1999, Lee and
Guthrie, 2008; Krebs, 2008). Many sociologists will wince at the claim that corporations are “a
form of individual”: the anthropomorphic model of organizations is hotly debated.
We have to recognize that the term social capital is notorious for taking different meanings. The
theory is still being developed. There are serious differences even among those analysts committed
to its social networks roots. Some of these problems come back as conceptual issues in the second
part of the paper but they do not undermine the main argument in Part 1: technological advances
2
3. have amplified social capital, broke the dominance of broadcast marketing, and increased the
relevance of online interactions among organizational stakeholders for organizational performance.
Part 2: Measuring Online Corporate Social Capital and Its Impact
The second part of the paper is the first stab at developing a method for measuring and
managing the specific type of social capital, in which Michael is interested – the method is called
Social Capital Value Add (SCVA). Admittedly, this is only the beginning: the method is not yet
developed and the paper only outlines the key ideas and major steps. The discussion below explores
the us of the concept of social capital and leaves the rest of the ideas for other experts to examine.
The objectives of the proposed method are two: first, it aims to show the extent, to which
corporate earnings are affected by interactions among stakeholders, whether positively or
negatively, and second, it seeks to capture the specific impact of these online interactions through
social network analysis. Most of the discussion refers to the first objective.
The logic is as follows: each company has online presence, i.e. there are numerous company-
related materials available at websites, blogs, forums, or emails. A portion of this content is created,
broadcast and controlled by the company. This part of online content is not considered an indicator
of interaction with organizational stakeholders, their connections, or embedded resources. By
contrast, the second portion of online content is created either in the interactions between the
company and organizational stakeholders or in the interactions among organizational stakeholders
themselves. Such interactively created content indicates the existence of connections that affect
company performance, whether positively or negatively, and therefore it indicates the existence of
corporate social capital. By its very nature, such interactions cannot be fully controlled by the
corporation although they can be to some extent manipulated and managed. It is the authors (or
“identities”) of this interactively created portion of online content that the method seeks to track.
In turn, not all online authors are equally important for the company performance. Some of the
authors already interact (or have interacted) directly with the company: for instance, an individual
who post comments in an online consumer discussion group and at the same time is a member of
company customer lists. In such cases, the company already has a connection to the individual and
the opportunity to influence him or her. The big unknown and one of the major risks for the
company (besides the negative online content, of course) are authors of online content, who do not
interact directly with the company. The gap between the known authors and all the authors is
interpreted as an indicator of the risk coming from social relations, which the company does not
control.
This logic demonstrates how the method will capture the extent, to which company performance
is exposed to online social capital. It is only after this exposure is examined, that the specific impact
of social capital on company performance can be addressed, including capturing the positive and
negative impact of online social relations on corporate performance. The last step of the methods
will be to measure and analyze social capital through the traditional social network methods.
In short, the proposed method is a marriage of valuation, online media monitoring, and social
network techniques. Most of the discussion in the second part focuses on capturing the exposure of
earning to the impact of social relations. The social network analysis part is only briefly touched
upon – its development as part of the method is in the future. Yet, this leaves open a number of
conceptual questions. For SNA analysts, the most important questions the approach raises are the
nature of the network and the nature of the relations under investigation.
3
4. The concept of social capital is rooted in the notion of resources that are embedded in social
relations, whether online or off-line, and a network position that provides access to them. The
SCVA method seems to uncover sets of dyadic ties between the company and diverse
organizational stakeholders rather than networks. For instance, company records identify customers,
suppliers, and other stakeholders who are all connected to the focal company (ego) but there is no
indication that they (alters) interact and are connected to each other. This issue is all the more
important given that these stakeholders are very diverse, and, most likely, so are their ties with the
focal company. At best, they are connected by a relation similar to co-membership: they are
connected because they all have done business with the focal company, “know of” it and are
perhaps subject to similar constraints and opportunities (Marin and Wellman, 2009). This relation
among organizational stakeholders is tenuous at best.
In turn, this raises the question if and how these tenuous ties create social capital. Not all ties
convey corporate social capital ties because not all ties contribute to organizational goals (Leenders
and Gabbay, 1999). Other network researchers point to mechanisms in which relations impact the
attainment of goals and the specific relational or network characteristics that generate social capital.
For instance, Uzzi, (1996) points to joint problem solving, Burt (1997) - to non-redundant
information linked to structural holes. By all means, the discussion should specify the tangible or
intangible resources that are embedded in social relations under investigation, outline their
relevance to company goals, and describe the way the company can access them and turn them into
opportunities. These conceptual issues need to be resolved before issues of measurement are
addressed.
The paper has done a tremendous amount of work bringing together diverse arguments to show
the relevance of specific online relations for company performance. Michael’s marketing, business
and finance background leads to an interesting application of social capital: he highlights the
changes in marketing in the new business environment, shows that online interpersonal relations
supersede company broadcast messages, and traces their impact on corporate performance. It is an
application of corporate social capital via marketing that brings attention to connections wider than
those usually traced. For CEOs and investors, perhaps the most valuable lesson is the understanding
that social connections, and especially online connections, are emerging as a dominant factor for
creating shared perception and that shared perception, in turn, affects organizational performance.
This is the crest of the wave that they cannot afford to miss. For the rest of us, perhaps most
exciting is the link between the end of broadcasting and social capital, the empowerment of
individual with the augmentation of social connections. At the same time, there is yet a long way to
go and significant hurdles to overcome in resolving conceptual issues, clarifying arguments, and
perhaps narrowing down the focus and the scope of his ideas. As a first stab at the new method of
social valuation, “Social Capital Value Add: Value Based Management for the Networked Age”
acknowledge the essential work that remains to be done.
References
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Coleman, James. 1988. Social Capital in the Creation of Human Capital. American Journal of
Sociology. Vol. 94, 95-121.
Granovetter, M. and R. Swedberg, 1991. The Sociology of Economic Life. Boulder, Colorado:
Westview Press Inc.
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5. Leenders, R. and S. M. Gabbay, Eds., 1999. Corporate Social Capital and Liability. Boston. Kluwer
Acad. Publ.
Lin, Nan. 1999. Building a Network Theory of Social Capital. Connections, Vol. 22, No. 1, pp. 28-51.
Marin, A. and B. Wellman. Social Network Analysis: An Introduction. Forthcoming in Handbook of
Social Network Analysis, Edited by Peter Carrington and John Scott, 2010.
Uzzi, Brian. 1996. The Sources and Consequences of Embeddedness for the Economic Performance of
Organizations: The Network Effect. American Sociological Review, Vol. 61, No. 4 (Aug., 1996), pp.
674-698.
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