Table of Contents
Social capital has gained drastic popularity in terms of collective advantage in social affairs. This paper tries to explain how social capital plays a vital role in terms social, political and economic well fairs in the society by providing the proper structure which should be followed so as to enhance better performance. The paper also examines formal and informal structure that can be connected to enhance social capital by enabling people to have mobilized structure which will provide better living standards of the society. Membership in terms of networking within the society acts as sole role in terms sharing information about the various activities of the society.
This paper also examines how social capital is very important in terms of management of social institution since it focus on future expected activities instead the present ongoing activities. Finally this paper tries to explain the advantages of social capita in any given society and what are the formation and benefits in our modern society. In addition social capital is viewed as public concern than private concern because many people tries to work as groups or together to achieve a given set goal. The paper also examines how rationale of creating social capital structure is mobilized among the people in the society to achieve efficient political, social and economic satisfaction.
Social capital encompasses a great deal of most individuals economic and political environment, which can be defined as the overall expected collective, economic benefits or gains that are derived from the preferential treatment and co-operation amongst individuals and groups. Many scholars have tried to come up with various approaches into viewing social capital and how it directly pertains human life and engagement. The purpose of this study is to try and come up with substantial ways and measures that will facilitate better understanding of social capital to enhance proper and sound decisions regarding the entire aspect of it, (B.Gary, 1996)
From an individual’s point of view, social capital has an immense impact judging from the fact that has been able to materialize especially through the establishment of social conceptualization, whose main focus has been directed towards individual’s free choice and the need to build trust as an individual and the community at large,(Lin Nan,1999).Personally, I would argue that social capital has given brought some fore-sight into what constitutes the entire aspect of capital structure. It has been in a position to substantially improve the living conditions of people, I included. This is especially from its benefits that facilitate cooperation of all its constituents, whereby, as an individual, am able to appreciate the advantages of such associations to build trust and fellowship in the entire community.
Further, it has extended its roots into the professional sector whereby, most people engrossed in business opportunities, information technology, and financial capital are coming up with various strategies to enhance strength and base of their social capital. This has been fruitful especially through the idea of professional people engaging in gatherings and network formation to discuss various issues related to the state of economics, community projects and other useful initiatives that could help generate revenue,(Ferragina,2012). Almost all these aspects apply in the context of social system but the most common ones are financial capital and information and investment ideas.
Citing close reference from the organization context, for instance, my focus is based on an accounting firm whereby, most aspects of social capital will creep in. To begin with, the specifics aspect of this is to analyze the impact and velocity of capital in the entire operations of the organization. This enables the organization to gauge the reliability and efficiency of such capital in their day to day operations. Further, it enhances high levels of transparency resulting from greater participation from the organized staff which allows democracy and the zeal to better the organization at large, (Coleman, 1988).
Social capital as earlier described to be collective in nature, impacts on various subsystems in any organization setting, owing to the fact that these sub-systems operate within the entire organization and their operations form part of the organization as a whole,(Mohan,2002).It also relates to the way things are structured to flow within a specified duration of time, into what constitutes the norms and culture of an organization. This is very crucial since social capital defines the investments habits of any group or firm and how the organization culture is incorporated in social capital to meet its set goals and objectives,(Portes,1998).
Basing the argument on self-assessment, there are major ways that define social capital. For instance, my involvement in various community projects and initiatives define my social capital standing. This is because am in a position to offer my services with the mentality that I will have some expected economic benefits. This goes on to facilitate local support in a person’s life as a whole, and therefore facilitates social cohesion and personal investment not only to an individual but also the community at large, (Foley, 1998).
In administering the evaluation criteria in social capital, it is very crucial to take into account the various critics associated with it. Citing from,(Coleman,1988),he argued that social capital was used as means of reproducing various inequalities in the community. This was because, some uncouth individuals sought the opportunity of gaining access to most powerful position especially through direct and indirect employment of social connections.
As an individual, I can take several measures in making sure my social capital doesn’t go to extremely negative levels by ensuring the following are put into place; Encouragement and facilitation of effective communication so as to avoid an instances of biasness or inequality in distribution of social resources that constitute social capital,(Dasgupta,2000).Secondly, I would ensure that there is elimination of spread of false rumors concerning various aspects that affect social capital; this is majorly to ensure that there is transparency which is a key driving force to enhance positive social capital. Another way of decreasing negative social capital is by ensuring a concerned individual, I would aid in the overall administration of activities that aim to foster security, justice and peaceful co-existence.
Nevertheless, social capital can be evaluated on various bases. Some of the successful evaluations can be based on the fact there is need to create consensus amongst various individuals and communities. This acts as a pillar in ensuring that positive social capital is incorporated which acts as an indicator of shared interest and agreements among various stakeholders to help induce collective action. This generally portrays increased social capital.
In conclusion, it is very advisable for social capital to be viewed with the intensity it deserves because it is building block for several elements that hold a community together. Each and every individual should take upon themselves to see that they understand every fact relating to social capital. This is due to the fact that it enhances co-operation through the structured networks that are created to facilitate positive social capital in every aspect of living.
Social capital also assist in information collection on a particular issues pertaining the well fair of the community and enable the community to share the information in terms of identifying new opportunity available in different field especial when dealing with business world. This collective information also assists the organization in the society to develop a proper chain management which wills results to innovative ideas being generated within the organization. Social capital also is important in terms of efficiency and effective management of modern society. It creates high level of democracy in such a way that a community is well governed, where by every structure in the organization is well functional so ensure that all information are share among the citizens and the leaders on other hand provide quality leadership in the society.
Social capital also assists in development high level economic structure in the society. This ensures that the community achieves high level of employment opportunity, high level of economic growth, reduced crime rate in the society and finally increase the efficiency of social institution for good governance. As we have seen above, social governance is very important in terms of collective achievements of the whole community to active the desired objective.