BGS 2008 Good Slides - Social Networking Sites and Social Capital

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Slide 1

Social Networking Sites & Social Capital in Singapore A Study To Draw The Links Social Networking Sites & Social Capital

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What Are Social Networking Sites? Web-based services that allow the Construction of a profile Articulation of a list of ‘friends‘ Traversing of current connections (Boyd, D. M., & Ellison, N. B. 2007)

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What Is Social Capital? “The goodwill that is engendered by the fabric of social relations and that can be mobilized to facilitate action.” (Adler & Kwon)

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What Is Social Capital? (cont’d) Social Capital Bonding Bridging ties between people in similar situations building of connections between heterogeneous groups (Schuller,Baron & Field 2000)

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Establishing Boundaries Business context only Restricted to professional service firms Finance, Consulting, Accounting etc

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Background

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Social Networking Sites Social Capital Enhanced Performance for Professional Services Firms Introduction Background Hypothesis #1 Hypothesis #2 Implications & Recommendations

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Benefits of Increased Social Capital Better and increased knowledge-sharing by drawing on resources from members of networks Access to individuals outside one’s close circle provides access to non-redundant information (Granovetter, 1973) Lower transaction costs (Cohen and Prusak 2001: 10) Benefits Of Increased Social Capital Introduction Background Hypothesis #1 Hypothesis #2 Implications & Recommendations

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Social Networking Sites Social Capital Enhanced Performance for Professional Services Firms Proven Correlation! Area Of Focus Introduction Background Hypothesis #1 Hypothesis #2 Implications & Recommendations

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Popular Social Networking Sites

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Hypothesis #1

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Hypothesis #1 There is a positive relationship between social networking sites and bridging and bonding social capital in professional service firms

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Data Spatially Bounded Online Social Networks and Social Capital: The Role of Facebook (Ellison, Steinfield and Lampe, 2006) The Social Capital of Structural Holes (Ronald S. Burt, 2001) Social Capital: Critical Perspectives (P. Maskell, 2000)

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Relationship Between SNS And Bonding Social Capital “…an informal way of asking and answering questions in a risk-free environment for employees...” “… the group has allowed [us] to network alumni with past co-workers” Michael Staub, creator of PricewaterhouseCoopers Facebook Group

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Relationship between SNS and Bridging Social Capital LinkedIn.com: Where Relationships Matter Place to find and leverage professional relationships Your network: 3 degrees 2nd and 3rd degree: Introduction via mutual contact LinkedIn Answers Best answers gain points of expertise

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Relationship between SNS and Bridging Social Capital (cont’d) Prosper.com Peer-to-peer lending Friends bidding on borrowers' loans Capture social relationships and social reputations in a way that allows borrowers to monetize their social capital

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Hypothesis #2

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Hypothesis #2 There is a positive relationship between Social Networking Sites and bridging and bonding social capital in professional service firms in Singapore

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What We Did Short interviews of working professionals Interview with a director of ING Group Interview with CEO of two advertising companies

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Interviews with Working Professionals Introduction Background Hypothesis #1 Hypothesis #2 Implications & Recommendations

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Interviews with Working Professionals 16-25 26-35 36-45

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Interviews with Working Professionals (cont’d)

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Why I Use It Gather market information Headhunt people Organize office events Keep in touch with business contacts Ask for help from friends/contacts

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Why I Do Not Use It Professionalism Lack of contacts Security issues Perception issues Company policy

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Interview with Mr. Vincent Liow Face to face interaction very important Singapore’s market is very small Need for intensive ground work

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Interview with Mr. Alvin Wong Communication between staff and clients Reach specific groups Wide network of artists Face to face impact negligible People grow up

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The Rest: Limitations, Implications & Recommendations

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Limitations of study Internal Validity Construct limited Facebook, Friendster, LinkedIn External Validity Generalizability limited Qualitative research

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Implications Social capital is vital for Knowledge-Based Economies (KBEs)

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Recommendations Start small. But start somewhere. Social capital is not homogeneous Needed by different industries Provided by different sites

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Conclusion Hypothesis #1 Hypothesis #2 Potential to tap on

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