MGMT1021 Lecture Notes - Lecture 21: Stanley Milgram, Social Capital, Human Capital
4 May 2016
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Session 21: influencing others: networks and power: small world phenomenon, stanley milgram (1977) six degrees of separation, the paradox b. i. The social world is clumpy (ties are clustered in neighborhoods), yet average chain lengths are short (few degrees of separation) b. ii. This is because of the presence of random long-range shortcuts that connect two distance local networks: well-structured networks, what they provide a. i. Social capital: provides opportunities to use financial and human capital productively a. i. 1. Access: receiving valuable (screening) info and knowing who can use it a. i. 2. get it a. i. 3. Timing: being apprised of info before competitors can. Referrals: getting you name mentioned at the right time: what they look like in the right places b. i. Contacts established in the right places where useful information is likely to be aired b. ii. Providing a reliable flow of information to and from these places b. iii. Creating power to broker transactions among disconnected clusters: strength of weak ties c. i.
