learning reflection | Importance of Social Capital in the Social Media Environment

$12.00

write a 500 word learning reflection on the topic. This learning
reflection will be graded by your tutor and is worth 10% of your overall mark.

 Is social capital more important than financial capital in the social media environment?  Why?

Description

Technology has brought a lot of complexity in the business environment and has introduced different forms of capital. Initially, the success of a business depended on the theory of individualism which stated that success of a business depended on financial capital and the amount of time and skills invested in the business. Today there are various forms of capital that a company needs to invest in to remain relevant in the business world.  Today, most businesses are conducted online through the social media, and they use the concept of social capital as introduced by Pierre Bourdieu. Social capital is regarded as a significant form of capital for businesses, and it is considered to be the power and resources that are available for people and companies through networking with other parties.  The social capital involves resources such as ideas, information, trust and goodwill that one may derive from networking (Knight, &Cook, 2013).  The paper evaluates the importance of social capital over the financial capital in a social media environment.