THE CONCEPT OF ENTERPRISE'S SOCIAL CAPITAL MANAGEMENT IN THE CONTEXT OF ENSURING ITS COMPETITIVENESS

Keywords: social capital, competitiveness, structural social capital, relational social capital, cognitive social capital

Abstract

The social capital of the enterprise in the context of increase of competitiveness is considered in the article. It is investigated that thriving development of the social capital researches is determined by the need to enhance competitiveness due to the influence of intangible factors. It is especially important in the modern world in terms of economic instability, large-scale crisis, political pressure and gaps in economic development. The social capital at different levels of relations is seen now as a constituent of business processes stability and source of competitive advantages. Consequently, ensuring the strategic management of enterprises competitiveness requires the creation of business environment contributing not only to economic success but also to development of social capital. However, studies on the impact of social capital on the competitiveness of enterprises need further development in order to find the most relevant factors of the social capital influencing the economic successes of business entities. In this regard it is important to develop also the conceptual basis for managing the social capital of the enterprise by its implementation in the process of competitiveness management. In this study the approach to achieve this goal is proposed using a set of general and special principles, methods, including generalization, comparison, analysis and synthesis. The implementation of the social capital management in the practice of competitiveness management can provide positive links with consumers, employees, local communities, which forms the positive future prospective for business activity. In order to ensure competitiveness, it is required to consider the management of social capital as a business process with definition of its stages and directions by key dimensions – structural, relational and cognitive strategic directions for the development of components of social capital. It requires the identification of key activities within the stages of social capital management. The principal recommendations of these activities content and coherence are proposed in this study.

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Jankauskas V.; Šeputiene J. (2007) The relation between social capital, governance and economic performance in Europe. Bus. Theory Pract. № 8. pp. 131–138. Retrieved from: https://www.researchgate.net/publication/228932447_The_Relation_between_Social_Capital_Governance_and_Economic_Performance_in_Europe

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Published
2021-09-28
How to Cite
Krol, V. (2021). THE CONCEPT OF ENTERPRISE’S SOCIAL CAPITAL MANAGEMENT IN THE CONTEXT OF ENSURING ITS COMPETITIVENESS. Economy and Society, (31). https://doi.org/10.32782/2524-0072/2021-31-52
Section
ECONOMICS