The Benefits of Social Capital


Following are some of the notable benefits of Social Capital:

 

LONG TERM RELATIONSHIPS

During both economic downturns and prosperous times, dependable relationships are critical for success in business and in life. By nurturing these relationships with an ongoing communications and networking plan that provides mutual respect, you can weather both economic storms and prosperity with your friends in business.

 

COOPERATION

The ability to maintain authentic and transparent lines of communications allows for the clarification of expectations and ongoing accountability. When everyone involved on a project is clear on common goals and what each party is undertaking and accomplishing toward their achievement, a team creates and maintains a spirit of cooperation throughout the life of a project.

 

NETWORKS

With the greater need for geographic diversity in search of talent, ideas, and partners coupled with increased travel costs and rising fuel prices, online social networks provide a means for connecting that is key to business survival. No longer can executives be the only contacts for a company; more and more team members should be involved with spreading the message and bringing back information from outside the organization.

 

RECIPROCITY

As old as the principles contained in the golden rule―do for others what you would want them to do for you―is the common sense notion that by helping someone else they will be more likely, in return, to help you.

 

When your knowledge and experience is available online and off for people and companies in your network, often their knowledge and experience is available for you in return. This growing resource is worldwide in its capacity, and being connected to that world greatly enhances your capacity to utilize it.

 

OPEN PLATFORMS

The only barriers to entry to the many social networking platforms proliferating across the world are the ability to access the web and the effort needed to learn your way around. The increased availability of broadband cable, satellites, and mobile devices connected to the web, combined with the expectations of digital natives and digital immigrants to have that access, is leading to an explosion of options for connection through social networks. Facebook, with over 1 billion users, is only one leading example of many options for connecting online. Every day new networks aimed at specific groups and niches emerge. Interconnectedness between platforms is being demanded and given by their developers. People demand interconnectedness between platforms, which developers by and large provide.

 

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