Introduction to Social Capital
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The document discusses the importance of social capital and trust in economic interactions, particularly in creative industries where monitoring is challenging. It emphasizes that higher trust environments facilitate lower transaction costs and foster innovation, while low trust can hinder economic progress. Additionally, it highlights the transformative role of the internet in enabling authentic conversations in markets, leading to smarter and more informed exchanges among individuals.
Introduction to Social Capital
- 1. Introduction to Social Capital. 9th of November 2016 London
- 2. What social media role do you feel most comfortable with?
- 3. The Art of Asking
- 4. You need less contracts. Important when you can’t monitor your employees work. Trust is especially needed in the creative industries. Litigation Is less frequent. Less resources to protecting yourself. Tax, Insurance, bribes or private security. Low trust discourages innovation. More time to dealing with bad employees, partners etc Trust Your logo here
- 5. (Arrow 1972) – Economic actions that require some agents to rely on the future action of others are accomplished at lower costs in higher trust environments. “Virtually every commercial transaction has within itself an element of trust, certainly every transaction conducted over a period of time.” Much economic backwardness in the world can be explained by the lack of mutual confidence. What trust makes possible. Your logo here
- 6. Social Capital. It’s not what you know it’s who you know.
- 7. The Market
- 9. Markets are conversations. Markets consist of human beings, not demographic sectors. Conversations among human beings sound human. They are conducted in a human voice. Whether delivering information, opinions, perspectives, dissenting arguments or humorous asides, the human voice is typically open, natural, uncontrived. People recognize each other as such from the sound of this voice. The Internet is enabling conversations among human beings that were simply not possible in the era of mass media. In both internetworked markets and among intranetworked employees, people are speaking to each other in a powerful new way. These networked conversations are enabling powerful new forms of social organization and knowledge exchange to emerge. As a result, markets are getting smarter, more informed, more organized. Participation in a networked market changes people fundamentally. People in networked markets have figured out that they get far better information and support from one another than from vendors. So much for corporate rhetoric about adding value to commoditized products. Here are the first 10 points
- 11. Trust & Commitment come from authentcity