Social Capital in Virtual Organizations
Authors: M. Lammertink
Publication Year: 2012
Journal: Fourth International Conference on Intelligent Networking and Collaborative Systems
In this fast growing world, rapid alterations in technologies result in having a huge influence on humans' standard of living, increase global opportunities and globalize shareholders' activities. Executives all over the world are expected to utilize the right technology in order to gain the high level of success for their organizations. These executives require sustainable knowledge, techniques and tools that will allow them to continue to advance and remain ahead of the competition in the business environment. In this paper, considered are the techniques that will give a clear analysis of how social capital can be created within virtual teams or organizations and what value is created with the help of social capital. It will help organizations to examine the type of value they already created with social capital and its reflection in the future. Social capital is defined as the collective value of all social networks and the inclinations that awake from these networks to do things for each other and can also be described as teamwork, both virtual and face-to-face. Every organization has relationships based on previous experience and expectations for the future. Therefore, all organizations have some social capital. Social capital is particularly based on trust, mutual understanding and shared values that bind people in a (virtual) company. Social capital can offer a practical and proven framework for rapid implementation of strategic changes in terms of global opportunities for companies. The number of companies that is making use of virtual teams is constantly growing, as is the need for trust between those teams. Social capital can play a main role in creating value for those virtual teams and organizations.