Social Network Theory

From Wikipedia, the free, on-line encyclopedia:

A social network is a social structure made of nodes (which are generally individuals or organizations) that are [linked] by one or more specific types of interdependency, such as values, visions, ideas, financial exchange, friendship, kinship, dislike, conflict or trade...

Social network analysis views social relationships in terms of nodes and [links]. Nodes are the individual actors within the networks, and [links]. [Links] are the relationships between the actors. There can be many kinds of [links] between the nodes. Research in a number of academic fields has shown that social networks operate on many levels, from families up to the level of nations, and play a critical role in determining the way problems are solved, organizations are run, and the degree to which individuals succeed in achieving their goals.

In its simplest form, a social network is a map of all of the relevant [links] between the nodes being studied. The network can also be used to determine the social capital of individual actors. These concepts are often displayed in a social network diagram [called a graph], where nodes are the points and [links] are the lines.

This concept is crucial for entrepreneurs. Their entreprises consist of them and their connections. Networks provide the social capital the entrepeneur needs to succeed. Customers buy and are influenced by their social networks. Social networks provide opportunities and information which the entrepreneur needs to succeed. Social network analysis provides a very rich set of tools by which the entrepreneur can analyze his or her social capital and manipulate their networks in order to manage risk and increase the odds of success. Note in the above quote I have substituted the work "link" for "tie." And if this interests you read the entire Wikipedia article and follow the links adn references. I assure you that you don't have enough hours to get your mind around all the stuff that's been written on Social Network Analysis.

Entrepreneurship informs everything I do. If it does this for you to, post a comment. For entrepreneurial real estate go to www.yourstopforrealestate.com/blog and for entrepreneurial writing to www.kearneymusicschoolmurders.blogspot.com