Showing posts with the label social capital

Enhancing Solutions through Developing Social Capital

There is value in our social networks beyond that which serves our immediate needs. Social capital is the ability to use social networks to accomplish something that cannot be done alone. Business social networks are commonly used in areas ranging from product development to supply-chain management. On a wider scale, social capital can be matched with open innovation through appropriate Internet and physical channel expansions to develop something new for economic development.  We must only think of how each person enters an economic system through their own particular way of viewing the world. They are defined by their background, education, skill set, cultures, experiences and social networks to view topics from a particular vantage point. Problems are defined based upon how they understand them through historically perceived practical solutions. As these elements begin to act and interact with each other they create new definitions on how to see problems and potential s