Brokerage And Closure: An Introduction To Social Capital

Paperback | August 24, 2007

byRonald S. Burt

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Social Capital, the advantage created by location in social structure, is a critical element in business strategy. Who has it, how it works, and how to develop it have become key questions as markets, organizations, and careers become more and more dependent on informal, discretionaryrelationships. The formal organization deals with accountability; Everything else flows through the informal: advice, coordination, cooperation friendship, gossip, knowledge, trust. Informal relations have always been with us, they have always mattered. What is new is the range of activities in which they now matter, and the emerging clarity we have about how they create advantage for certain people at the expense of others. This is done by brokerage and closure. Ronald S. Burt builds upon his celebrated work in this area to explore the nature of brokerage and closure. Brokerage is the activity of people who live at the intersection of social worlds, who have a vision advantage of seeing and developing good ideas, an advantage which can be seen in theircompensation, recognition, and the responsibility they're entrusted with in comparison to their peers. Closure is the tightening of coordination in a closed network of people, and people who do this do well as a complement to brokers because of the trust and alignment they create. Brokerage andClosure explores how these elements work together to define social capital, showing how in the business world reputation has come to replace authority, pursued opportunity assignment, and reward has come to be associated with achieving competitive advantage in a social order of continuousdisequilibrium.

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From the Publisher

Social Capital, the advantage created by location in social structure, is a critical element in business strategy. Who has it, how it works, and how to develop it have become key questions as markets, organizations, and careers become more and more dependent on informal, discretionaryrelationships. The formal organization deals with ac...

Ronald S. Burt is Hobart W. Williams Professor of Strategy and Sociology, Graduate School of Business, University of Chicago.

other books by Ronald S. Burt

Structural Holes: The Social Structure of Competition
Structural Holes: The Social Structure of Competition

Paperback|Aug 11 1995

$43.24 online$44.50list price
Format:PaperbackDimensions:304 pages, 9.21 × 6.14 × 0.59 inPublished:August 24, 2007Publisher:Oxford University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0199249156

ISBN - 13:9780199249152

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Table of Contents

Introduction1. The Social Capital of Structural Holes2. Creativity and Learning3. Closure, Trust, and Reputation4. Closure, Echo, and Rigidity5. Images of Equilibrium

Editorial Reviews

`Review from previous edition Burt is among the best social network writers in articulating ideas from a research tradition that is notoriously difficult to put into words. Brokerage and Closure is the next step in research on social capital.'AMR, Management Rreview