...definitions for investigations of society, and a range of perspectives about what makes such studies. The significance of sociological theories should not be underestimated. They give phenomenologically sufficient depictions of how individuals experience different social courses of action in the society. In many occasions of my life, I have applied the social capital theory in many ways. The most recent one was in my education where I developed a good student-teacher relationship. Over the past decades, the theory has become a promising one, especially in analysis. Multiple kinds of capital accumulate through the process of network development to which the social capital theory offers an in-depth framework for analyzing why and how the social capital. As an...
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...HUMAN CAPITAL DEVELOPMENT Human capital is the stock of competencies, knowledge, social and personality attributes, including creativity, cognitive abilities, embodied in the ability to perform labor so as to produce economic value. It is an aggregate economic view of the human being acting within economies, which is an attempt to capture the social, biological, cultural and psychological complexity as they interact in explicit and/or economic transactions. Many theories explicitly connect investment in human capital development to education, and the role of human capital in economic development, productivity growth, and innovation has frequently been cited as a justification for government subsidies for education and job skills training.[1] "Human capital" has been and is still being criticized in numerous ways. Michael Spence offers signaling theory as an alternative to human capital.[2][3] Pierre Bourdieu offers a nuanced conceptual alternative to human capital that includes cultural capital, social capital, economic capital, and symbolic capital.[4] These critiques, and other debates, suggest that "human capital" is a reified concept without sufficient explanatory power. It was assumed in early economic theories, reflecting the context, i.e., the secondary sector of the economy was producing much more than the tertiary sector was able to produce at the time in most countries – to be a fungible resource, homogeneous, and easily interchangeable, and it was referred to simply...
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...successful in venture creation. Also, opportunity recognition means the perceiving possibility of starting a new business and leading to considerable profit. There are two types opportunity recognition ‘internal perspective’ and ‘external perspective’. Internal perspective means entrepreneurs should make sure that problems and needs identified before make a decision which is risky, but external perspective denotes they should make the decision to start a venture precedes opportunity recognition. Most of entrepreneurs looked at three methods of discovery opportunity recognition ‘active searching’, fortuitous discovery’ and ‘opportunity creation’. However, social capital and human capital might be affected on opportunity recognition when entrepreneur creates a new business. This paper is going to discuss how human capital and social capital influence on each method of discovery opportunity and how those three methods help entrepreneurs to recognize valuable opportunities. The first significant theoretical model of opportunity identification is an active search, and those people who are advocating the active search method propose that individuals recognize opportunity through purposeful, deliberate, conscious search. For instance,...
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...rapidly, is the ultimate competitive advantage. Jack Welch. Human Capital Theory (HCT) purports that peoples learning capacity when effectively utilised results in profitability for the individual, organisation and society at large. It underlines or seeks to explain why Human Resource Development (HRD) is beneficial not only for the individual, but for the firm and the macro-economy. The extent to which firms undertake training is important in establishing the amount of support for human capital theory. During 2001 – 2002, the Australian Bureau of Statistics reported 81% of all Australian employers provided some training for their employees. Of all employers, 79% provided unplanned or on-the-job training while 41% provided structured or specified content training. These statistics are evidence of employers approach in that training is seen as a necessity; but does management d understand the link between training and improved performance outcomes? Capital is a product that yields returns. Traditionally we associate this with investment funds, land or equipment. Taylorism emerged in the 1890’s and focused on applying science to the engineering process with a view to driving efficiencies by way of increasing productivity by refining processes or reducing inefficiencies via reduced wastage. It was not until the 1950’s that consideration was given that workers contributions could be recognised as capital. The fundamental principle underpinning HCT is the belief that peoples’...
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...THE ECONOMIC PERFORMANCE OF IMMIGRANTS The Role of Human and Social Capital AGNIESZKA KANAS Kanas, A.M. The Economic Performance of Immigrants. The Role of Human and Social Capital Dissertation, Utrecht University, The Netherlands Cover illustration: Krzysztof Wodiczko, Goscie/Guests, 2009, instalacja wideo/video installation, 17,17 min./minutes. Dzieki uprzejmosci artysty i Fundacji Profile/courtesy of the artist and Profile Foundation, Warsaw. Cover design: Agnieszka Kanas & Sebastian Gryglewicz Printed by: Wöhrmann Print Service ISBN: 978-90-393-5550-3 © Agnieszka Kanas, 2011 All Rights reserved. No part of this publication may be reproduced, translated, stored in a retrival system of any nature, or transmitted, in any form or by any means, electrnically, mechanically, by photocopying, microfilming, recording, or otherwise, without the prior written permission from the author. THE ECONOMIC PERFORMANCE OF IMMIGRANTS The Role of Human and Social Capital DE ECONOMISCHE POSITIE VAN IMMIGRANTEN De rol van menselijk en sociaal kapitaal (met een samenvatting in het Nederlands) Proefschrift ter verkrijging van de graad van doctor aan de Universiteit Utrecht op gezag van de rector magnificus, prof.dr. G.J. van der Zwaan, ingevolge het besluit van het college voor promoties in het openbaar te verdedigen op dinsdag 28 juni 2011 des middags te 2.30 uur door Agnieszka Małgorzata Kanas geboren op 3 februari 1980 te Trzcianka, Polen Promotoren: Prof. dr. F.A...
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...The Relevance of Social Capital in Politics Social capital is about the value of social networks, bonding similar people and bridging between diverse people, with norms of reciprocity. (Dekker and Uslaner 2001) As indicated by Robert Putnam (2000), there is a distinction between bonding social capital, which is exclusive, and bridging social capital, which is inclusive. In other words, those with similar ideas and views join groups or organizations that collectively share the same; these groups provide social capital that is bonding in nature and reinforces their views or beliefs. Other groups that tend to be open to many different viewpoints and ideas are inclusive, and allow for the development of social capital that is bridging in nature. Every relationship tends to come with its own reciprocity, or mutual benefit, which can translate into social capital. Social capital is equal to one’s social value, and is what most determines outcomes in politics (and business in many cases). If you have developed strong bonds with like-minded individuals and strong bridges with those with differing views, then you would generally be considered to have good, well rounded social capital. Politicians are, (in theory at least), representative of their constituents. The reality is that they represent most of the values and ideology of the majority of their constituents. The reality may be that they put on a good show in order to gain enough social capital to be voted into office...
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...Q1. How can social media such as LinkedIn, Facebook, and Twitter be used to improve knowledge sharing, build social capital, support innovation, and aid problem solving in one of the following context - - A multinational corporation - Small business networks in Australia or your home country - Networks of community based Not for Profit organisations in Australia or your home country Discuss the associated risks and benefits for this context Table of Contents Introduction 4 Building Social Capital 5 Improving Knowledge Sharing 6 Aid Problem Solving 7 Supporting Innovation 8 Risks of Social Media 9 Conclusion 10 References 11 Introduction This essay examines how social media can be used to assist multinational organisations through enhancement of knowledge assets and social capital. Social media is an accessible and influential tool that can be used by organisations to cultivate and improve abilities to learn and share new knowledge. This knowledge can be used to solve problems through the effective usage of social media. Social networking has caused a fundamental and transformational shift in the way that people are connecting, knowledge is being shared and information is flowing However, as the information is communicated via the internet, risk of miscommunication and loss of vital information may happen. With proper management of knowledge sharing through social media, the organisation can provide excellent services and products to...
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...Whole Foods has been able to utilize the positive assumptions about a person’s work ethic to their advantage. McGregor’s Theory Y tells us that "Managers could accomplish more through others by viewing them as self-energized, committed, responsible, and creative beings.” (Kreitner and Kinicki, 9) By implementing a workplace that is built within the values of Theory Y Whole Foods motivates, engages and empowers their employees, creating a more positive workplace, and happier employees. Whole Foods builds its human capital by taking the time to select people who they feel will be a "good fit" for the company as a whole, and looks beyond ability and skill to do so. Social Capital is developed by creating a workplace that encourages happy employees. John Mackey has been quoted as saying “when people are really happy with their jobs, they provide much higher degrees of service to the customers. Happy team members result in happy customers”. This results in a positive chain reaction that leads to more business, more money. (Kreitner & Kinicki, 2013, p. 30) The profile of a 21st century manager can be seen throughout the Whole Foods organization. Managers are seen less as people who give orders and more of team members, coaches and advocates. They understand that in their industry their primary resource is their human capital, and work to keep this resources preforming at its best by investing in quality training and going to great lengths to make sure that their employees are happy...
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...------------------------------------------------- This paper was prepared by Anthony C Ndjovu a Masters Student of Research and Public Policy at University of Dar-Es-Salaam ------------------------------------------------- INTRODUCTION ------------------------------------------------- Civil society is often described as the “third sector”, a domain outside market and state which contributes economic participation. Its strength can have a positive economic influence on the state and the market. Other scholars such as Adam Smith and Marx in identifying civil society primarily as economic interaction through the market and hence civil society acting as the agent for promoting economic development in country by stimulating good governance like transparency, effectiveness, openness, responsiveness and accountability. Therefore key features of successful civil society which emanate from various definitions include the following: separation from the state and the market; formed by people who have common needs, interests and values like tolerance, inclusion, cooperation and equality; and development through a fundamentally endogenous and autonomous process which cannot easily be controlled from outside. The purpose of the paper is to investigate the functions or economic roles of civil society. Firstly, Civil society is often associated with its advocacy role. Civil society can identify problems that are not addressed by the economic elite and bring them to public attention...
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...employment are three-fold: individuals fail to acquire the correct human and social capital, and they are labeled as deviant (Cox 2010:289). Social capital, according to Bourdieu, pertains to the acquaintances an individual has, and the value of such connections for an individual's perceived qualifications and possibility for all kinds of group support (Richardson 1986). Social capital can benefit an individual in the labor market by providing them with connections to potential employers, which the latter will consider as a positive sign of an individual's trustworthiness (Richardson 1986; Newman 2000). Incarcerated individuals are more likely to cultivate their social capital...
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...Social capital can be manipulated to disseminate or compromise the public good (Woolcock and Narayan 243). This, in many cases, means promoting the majority and discriminating or undermining the minority. In its most simplistic terms social capital refers to the customs and associations that enable people to act collectively (Woolcock and Narayan 226). However, according to The Economist: Economics A to Z social capital is defined as “the amount of community spirit or trust an economy has given it togetherness” thus the greater the social capital the greater the productivity of the economy. Yet, the effectiveness and potential of social capital differs among groups, especially when comparing ethnic minorities. These minorities are many times...
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...Daria Sociology B2 Human Capital Theory What is human capital? According Schultz (1993), the term “human capital” has been defined as a key element in improving a firm assets and employees in order to increase productive as well as sustain competitive advantage. To sustain competitiveness in the organization human capital becomes an instrument used to increase productivity. The theory of human capital is rooted from the field of macroeconomic development theory (Schultz, 1993). Becker’s (1993) classic book, Human Capital: A Theoretical and Empirical Analysis with special reference to education, illustrates this domain. Becker argues that there are different kinds of capitals that include schooling, a computer training course, expenditures on medical care. And in fact, lectures on the virtues of punctuality and honesty are capital too. In the true sense, they improve health, raise earnings, or add to a person’s appreciation of literature over a lifetime. Consequently, it is fully in keeping with the capital concept as traditionally defined to say that expenditures on education, training, and medical care, etc., are investment in capital. These are not simply costs but investment with valuable returns that can be calculated. Uluslararası Sosyal Arastırmalar Dergisi The Journal of International Social Research Volume 2 / 8 Summer 2009 The Relationship between Human Capital and Firm Performance Human capital is getting wider attention with increasing...
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...WHY IS THE HUMAN CAPITAL SO IMPORTANT FOR THE ECONOMIC DEVELOPMENT OF MAURITIUS? Introduction This assignment aims to look at the special importance of human capital to the economy of Mauritius. First, we go about defining the concept of human capital. Afterwards, there will be a section which talks a bit about the history of the economy of Mauritius. Then we will move on to another section which tries to explore the different factors as to why and how human capital is important to Mauritius. We will then have a concluding remark. We will end by some possible recommendations. What is human capital? Adam Smith defined human capital as follows: “Fourthly, of Justin Slay’s types of capital which is of the acquired and useful abilities of all the inhabitants or members of the education, study, or apprenticeship, always costs a real expense, which is a capital fixed and realized, as it were, in his person. Those talents, as they make a part of his fortune, so do they likewise that of the society to which he belongs. The improved dexterity of a workman may be considered in the same light as a machine or instrument of trade which facilitates and abridges labour, and which, though it costs a certain expense which certainly repays afterwards. The use of the term in the modern neoclassical economic literature dates back to Jacob Mincer's article "Investment in Human Capital and Personal Income Distribution" in the Journal of Political Economy in 1958. Theorists also...
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...Swati Rath America’s Promises 2710 Prof. Sipple Policy Paper Parent Involvement in Primary and Secondary Schools Educators have increasingly identified parental involvement as the primary vehicle by which to elevate academic achievement from current levels. However, in many cases, it is not always easy for parents to find time and energy to become involved or to coordinate with schedules for school events. A visit to school can be perceived as an uncomfortable experience, or they may have their hands full with a job and other children. “In 1990-91, one out of every four public school teachers cited lack of parent involvement as a serious problem in their schools. This problem was also described as "serious" by 4.3 percent of private school teachers. Among both public and private school teachers, this problem topped the list in the percentage of teachers who rated it as a serious problem in their schools. Secondary teachers were more likely than elementary teachers to report lack of parent involvement as a serious problem in their schools” (Loos). Given this, it becomes clear something needs to be done about the lack of parent involvement in primary and secondary schools. Should states mandate parent integration programs for all K-12 institutions? In terms of definitions, parental involvement was defined as “parental participation in the educational processes and experiences of their children”, communication as “the extent to which parents and their children communicated about...
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...ongoing reality. Readers will learn how to modify their strategies and management practices and adapt to this new reality. SOCIAL FORCES The subject of ethical codes and CSR crystallizes many social challenges. At the one extreme are those who, like Milton Friedman (1970/2001), advocate the guiding principle of shareholder value maximization as the sole determinant of managerial decisions. At the other extreme are those who expound an altruistic philanthropy based on philosophical beliefs concerning universal ethics, such as those related to human rights. Within this range of perspectives, many authors offer distinct typologies for analyzing social forces and for developing appropriate firm responses to each set of social forces. Meanwhile, the rise of activist groups who threaten public criticism and boycotts means that even Friedman’s dictum of maximizing shareholder value now requires a wide range of CSR strategies. Some analysts, such as Porter and Kramer (2006), believe that each firm should create a competitive advantage through appropriate CSR strategies. From this perspective, CSR morphs into political strategies through which a firm’s reactions can be designed in order to achieve desirable government decisions. For multinational enterprises (MNEs), it is clear that CSR has become a subject of major importance, but the complexity of dealing with social forces that differ among nations has created uncertainties about the optimal strategies. The pursuit of least-cost alternatives...
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