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Chapter 8

COMMERCE 3S03 Chapter Notes - Chapter 8: Social Capital, Soft Power, Human Capital


Department
Commerce
Course Code
COMMERCE 3S03
Professor
Frances L Tuer
Chapter
8

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Chapter 8 Networks, Relationships and Soft Power
Networking is one of the most obvious and sometimes dreaded challenges aspiring
managers face.
o Networking creating a fabric of personal contacts that will provide support,
feedback, insight, resources and information.
Managers need a high level of social capital
o The role of formal education is to develop human capital.
o Social capital includes the resources available to an individual as a consequence
of his or her personal relationships.
o Human capital is about the task, but social capital is about relationships
Networking is the primary tool to increase an individual’s social capital.
Networking
Networking Proactive attempts by individuals to develop and maintain personal and
professional relationships with others for the purpose of mutual benefit in their work or
career.
Professional Network A set of relationships critical to one’s ability to get things done,
get ahead, and develop personally and professionally.
o Types of Professional Networks
1) Work Network
Made up of people who are beneficial in making a manager’s
job more effective and efficient.
Members in the network are usually there by default because
they play a necessary role in getting the work done.
Includes internal employees (supervisors, direct reports,
peers, and people from other departments; also vendors and
distributors)
2) Social Network
Made through events outside of everyday work to get a wider
variety of contacts, mentors and coaches.
May lead to potential referrals.
Typically made of friends who are not necessarily in the same
line of work but usually have common interests.
3) Career Network
Enlist the help of people and groups to get where they want to
go in their careers.
Roles in a Network
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Network roles make up the informal structure of an organization (the regular pattern of
interactions among employees)
Formal Structure How things are supposed to work and who reports to whom.
o Hub
Play the role of the central connector, and are sought out for
information.
Typically have technical expertise and organizational memory
They are the go-to person in the organization
If they don’t know the answer, they will know where to go to find
it.
They help a new employee learn the culture, the accepted way of doing
things, and who the key people are for various resources
o Broker
Provide links across subgroups and to use these connections to integrate
the larger network
They have a broad knowledge of how the organization operates
They give every member of a cluster access to other parts of the
company-wide network.
They serve as translators between groups because of their technical
expertise and knowledge of terminology in different subgroups
o Peripheral
Have the fewest number of connections and tend to work at the
boundary of a network.
They have niche expertise that is not needed on a daily basis but may be
useful in a crisis.
Learn to Network
Just Get Started
Dig the well before you are thirsty
o Build the network before you need it.
Take names
Never eat alone
Have something to give.
o Reciprocity is essential to successful networking
Find a Kingpin
o A Kingpin is someone who has more information about what is going on than
anyone else (but they are not necessarily the CEOs)
o They are bold, assertive, and self-assured
o Always assume that someone you meet today might be a kingpin in the future.
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