Shortlisted for the AOM George R Terry Award 2006
Brokerage and Closure
An Introduction to Social Capital
Ronald S. Burt
Price: £37.50 (Hardback)
ISBN-13: 978-0-19-924914-5
Publication date: 11 August 2005
296 pages, Numerous figures and tables, 234x156 mm
Series: Clarendon Lectures in Management Studies
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| Reviews |
| - '
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 Review
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| Description | | - Examines how networks, social capital, trust, and reputation work to achieve competitive advantage
- Provides an ideal introduction to network models of social capital
- Shows how social capital can be used to advance careers and improve organizational performance
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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, discretionary relationships. 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 their compensation, 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 and Closure
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 continuous disequilibrium.
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Readership: Academics and graduate students in the field of Management Strategy and Organization Studies; MBA students; Executives who want a well-grounded but original view of competitive dynamics in and between organizations.
| Contents |
Introduction
1.
The Social Capital of Structural Holes
2.
Creativity and Learning
3.
Closure, Trust, and Reputation
4.
Closure, Echo, and Rigidity
5.
Images of Equilibrium
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| Authors, editors,
and contributors |
Ronald S. Burt, Hobart W. Williams Professor of Strategy and Sociology, Graduate School of Business, University of Chicago
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