Question 1.2 - Social Capital

According to BetterTogether, social capital is defined as “the collective value of all social networks and the inclinations that arise from these networks to do things for each other (‘norms of reciprocity’). The central premise of social capital is that social networks have value.” (BetterTogether initiative, [s.a.] cited in The Independent institution of Education, 2019).
Source: https://portal.iie.ac.za/Student%20Manuals/DIGC5110_Digital_Citizenship/2019/STManual.pdf

From the above definition, it can be inferred that ‘social capital’ is the embodiment of an individual’s correspondence and connection with society, consisting of their relationships; reputation; participation in; and understanding of society. The fundamental basis of social capital is that it adds value to the life of an individual – for example, a person constantly providing charity to society adds to the quality of life within the society and that of the person itself.
Therefore, social capital serves as an asset of sorts to an individual. And of course, in today’s money-centric world, society has steadfastly attached a monetary value to this asset. With the advent of technology, most organisations have come to rely on social capital to thrive economically. The prosperity of Airbnb, Uber and Facebook has been achieved by means of social capital.

However, in the current, largely digitalised era, it is not only the major companies that employ the use of social capital – with the growth and accessibility of the internet, it’s being adopted as a worldwide, household concept to improve daily lives, for example: uploading resumes, creating blogs, vlogging (video blogging), selling products on Instagram, providing live traffic updates etc.

Social capital is important to digital citizens, not only for monetary benefits, but because it assists people to build visibility; to grow and learn; to help each other and to maintain bonds of trust.
Source: https://www.newenglandcollegeonline.com/resources/sociology/importance-of-social-capital/

Based on the above, a digital citizen may enhance their Social Capital as follows:

·        Explore the world and engage with people: Social Capital consists of the relationships, correspondence and cooperation one has with society at large – thus, it only makes sense that, in order to build social capital, one must reach out and explore, expose oneself to the many different segments of society and embrace diversity in view of learning and understanding it better, and to make oneself visible. This can be achieved through travel, and by means of the internet.

·        Being constant and proactive in networking: It is vital for an individual to work actively and consistently on building their network, so that their network is always there to fall back on and create new opportunities. This can be done via the use of LinkedIn, Facebook etc. 
Source: https://www.forbes.com/sites/bonniemarcus/2014/10/20/your-network-is-your-net-worth-7-ways-to-build-social-capital/#210808b96af7

·        Learning to use social networking to one’s advantage: For example, many youngsters are adept in using social media platforms such as Instagram and Twitter to project their lives in an appealing manner to enhance their reputations. Similarly, entrepreneurs employ methods to advertise and gain appeal for their businesses online. This can be learned through practice, engaging with social media regularly and doing research.

·        Always staying relevant: To do this, an individual must make an effort to keep updated as to what is socially relevant. The digital world is very fast-paced and expansive; therefore if digital citizens are not relevant in their approach, they will not succeed.
Source: http://www.linkingintosales.com/5-ways-to-improve-your-social-capital-social-selling-tip-of-the-day-021/

·        Networking strategically: When engaging with society, one must always be cognisant of the effects of their networking. By networking tactfully, an individual can ensure that their networking facilitates their goals and career.
Source: https://www.forbes.com/sites/bonniemarcus/2014/10/20/your-network-is-your-net-worth-7-ways-to-build-social-capital/#477e6a716af7