i need an essay on social capital in trade and business in special reference to Indian community
Answers
Explanation:
What Is Social Capital?
The term social capital refers to a positive product of human interaction. The positive outcome may be tangible or intangible and may include useful information, innovative ideas, and future opportunities. It can be used to describe the contribution to an organization's success that can be attributed to personal relationships and networks, both within and outside an organization. It can also be used to describe the personal relationships within a company that help build trust and respect among employees, leading to enhanced company performance.
KEY TAKEAWAYS
Social capital is a set of shared values that allows individuals to work together in a group to effectively achieve a common purpose.
The idea is generally used to describe how members are able to band together in society to live harmoniously.
In business, social capital can contribute to a company's success by building a sense of shared values and mutual respect.
Social capital can manipulate people and destroy order as is the case with drug cartels and corporations that team up to drive out the competition.
Understanding Social Capital
Social capital allows a group of people to work together effectively to achieve a common purpose or goal. It allows a society or organization, such as a corporation or a nonprofit, to function together as a whole through trust and shared identity, norms, values, and mutual relationships. Put simply, social capital benefits society as a whole through social relationships. As such, the study of how social capital works or fails to work pervades the social sciences.
Although the term social capital may have been put into use more recently, the concept itself—that social relationships can have productive outcomes for an individual or a group—has been explored for quite some time. It was commonly used to describe civic and social responsibility or how members of a community work together to live harmoniously and in unison. When used in this context, the definition is purely social with no financial implications.