social capital
7 years ago No Comments

(pronounced SOH-shehl CA-peh-tuhl)

The idea that value can be assigned to social networks just as value can be allotted to physical objects (homes, cars, etc.) and human capital (a highly skilled employee, a team of construction workers, etc.). Those plugged into a particular network get value out of the collective benefits coursing through it — i.e., information, cooperation, trust, and reciprocity.

Example: After 25 years of doing business with and working alongside design professionals on various committees, Valerie took great advantage of the social capital she possessed to make a successful career shift within the A&D industry.