Social capital refers to the reserves present in and through individual and business systems. Some of these resources engross business opportunities, information, financial capital, ideas, authority and influence, goodwill, emotional support, trust and cooperation. Almost all these resources apply in the social system, but the most common ones are trust, emotional support financial capital and information and ideas. The word social in term ‘social capital’ stresses that these reserves are not individual assets because there is no single person who owns them (Dasgupta & Serageldin, 2000). This shows that even if I possess them, they do not belong to anyone, as they are the property of everyone. The reserves dwell in systems of relationships that exist between me and my colleagues.
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If a person thinks of human capital as about something what he acknowledges as his own wisdom, skills and experience, admission to social capital relies on who the person knows. This includes the size, diversity and quality of individual and business system. Personal life and professional or business lives are two distinct things that I practice (Halpern, 2005). These two are inseparable in a person because both of them determine the social interaction of this person. Nevertheless, social capital also relies on someone who the person does not know, although one is linked to them through the networks.
Capital stresses that social capital like financial capital or human capital, is productive. This is because capital enables people to develop value, get things running, obtain personal and/or organizational goals, and accomplish personal missions in life, and make individual contributions to the world. This is where the aspect of professional life comes (Field, 2003). An individual can only make a contribution to the world if he or she has a career. This is a certain field that one works in and has much studied. The contribution may also come as a result of talent deployment. This simply implies that terming social capital as productive is sarcasm because there is no person who can be victorious or is able to survive without it. Numerous individuals believe they need to be able to get along without social capital. This is a mistake because social capital is like a recommendation for victory.
Other people pretend to boom without social capital, but they use it clandestinely as if it were indecent or even unethical. These beliefs and attitudes are entrenched in the myth of individualism. The myth of individualism is a cultural belief that everyone thrives or fails on the basis of personal hard work and abilities (Halpern, 2005). This myth is extremely powerful, although it is an immense constraint to obtaining success through social capital. Despite the existence of this myth, social capitalism is still a critical part of achieving personal success, business triumph and even satisfaction in life.
For example, social life helps one succeed in the studies and to prosper in the objectives of becoming a prominent business person (Dasgupta & Serageldin, 2000). It is clear that social capital is a scientifically verified benefit of relationships for individuals, groups and companies in the world of business. Social capital also goes further to provide a link between systems and the greater concerns of life, which include longer life, health, sense of humor, accomplishment and ability to contribute to the world (Field, 2003). For example, social capital is able to link my system with another person’s system in terms of relationship. This means that the two of us might be strangers at first, but after some time we know each other and begin to socialize. This occurs in terms of my professional life either at school or workplace, or my personal life where we socialize through natural interaction.