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Bankruptcy is one of the natural states which a company may find itself in. Entrepreneurship is primarily about taking risks. When companies take risks, some of them succeed, whereas others fail. Hence failure is a natural part of the business. However, many critics of bankruptcy laws believe that there isn’t a need for an elaborate […]
The Wirecard and Infosys Scandals are a Lesson on How NOT to Treat Whistleblowers
What is the Wirecard Scandal all about and Why it is a Wakeup Call for Whistleblowers Anyone who has been following financial and business news over the last couple of years would have heard about Wirecard, the embattled German payments firm that had to file for bankruptcy after serious and humungous frauds were uncovered leading […]
Why the Digital Age Demands Decision Makers to be Like Elite Marines and Zen Monks
How Modern Decision Makers Have to Confront Present Shock and Information Overload We live in times when Information Overload is getting the better of cognitive abilities to absorb and process the needed data and information to make informed decisions. In addition, the Digital Age has also engendered the Present Shock of Virality and Instant Gratification […]
Why Indian Firms Must Strive for Strategic Autonomy in Their Geoeconomic Strategies
Geopolitics, Economics, and Geoeconomics In the evolving global trading and economic system, firms and corporates are impacted as much by the economic policies of nations as they are by the geopolitical and foreign policies. In other words, any global firm wishing to do business in the international sphere has to be cognizant of both the […]
Why Government Should Not Invest Public Money in Sports Stadiums Used by Professional Franchises
In the previous article, we have already come across some of the reasons why the government should not encourage funding of stadiums that are to be used by private franchises. We have already seen that the entire mechanism of government funding ends up being a regressive tax on the citizens of a particular city who […]
Online social networking sites (SNS) are basically the gatherings of individuals who share similar interests. Online communities like:
Bring together like-minded people and establish contact between them by providing information about each individual. It is evident that exponential growth of internet users has resulted in increased interactions among individuals on social networking sites.
The basic aim of individuals registered on these communities is to create personal or professional relationships that can prove to be relevant in some or other way.
Apart from these websites, there are several other websites including messaging sites such as IM, chat and address book, social bookmarking sites such as Digg and Delicious and content sharing sites such as Flickr and You Tube also bring like-minded people together.
While creating an online community is much easier, maintaining client interest for long is very difficult. In this regard, Facebook is considered as the most successful social networking site.
Created in the year 2004, FB had more than 21 million registered members by the year 2007 and till date, it continues to be the most popular social networking site with more than 1 Billion registered users.
It helps people share information about them and generate a connection with other individuals. Although social capital can be defined in various different manners but the basic remains the same. It is usually referred as the resources built up through connections or relationships among people.
The major impact of social networking sites on social capital can be concluded in a way that they have made it easier for people to gather information about each other and establishing a relevant relationship among them. However, it has certain side effects also.
Individuals registered on Facebook share so much personal information about them that they may have privacy problems. They can be traced easily. These resources can be used as information against personal relationships or social relationships.
Social capital is generally associated with a variety of positive social outcomes. As people share information about, it creates awareness among them about financial markets, public health, religion, latest technology, diseases, social disorders and many other issues.
Additionally, it increases the probability of collective actions against social evils or any other cause.
Although social capital can be used negatively but generally it is seen as having a positive impact on society. Along with being a gathering of like-minded people, these social networking sites allow them to share their interests and establish and maintain their relationships with people.
Social capital can be divided in to bonding and bridging. The former is usually refers to the strong ties with family and close friends whereas the latter represents the loose connections between individuals. If seen as creating a bond between two individuals, it has greater positive effects on social capital while loose connections can not result into long term connections.
Bonding always reflects strong ties and bridging always refers to week ties.
Recent researches have shown that internet based links or relationships are important to individuals as they make each other aware of the advancements in the field of technology, politics and finance and current social disorders. This means even week ties play an important role. But it may not end for a much longer period of time.
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