Social Capital Theory
Social Capital Theory is an essential tool for the analysis of finding in the study. The theory gives an understanding of social relationships that exists between individuals and firms in online markets (Pearson et al., 2008). The approach has its roots in analyzing social relationships existing among individuals, and those existing between people and their societies. Therefore, the theory holds a capacity to profoundly examine the benefits individuals gains when there exists a relationship with online business environments. Also, social capital brings a lot of benefits, as it determines value addition on persons who are typically active in society, unlike those isolated (Griffis & Johnson, 2014). As the research seeks to examine the impacts of social networks on e-commerce and the behavior of consumers, the social capital theory is an essential tool for use in analyzing the findings of the study.
Evolution of the social capital theory
Various writer seeks to simplify the ideology of social capital theory. For instance, Field described the approach in simpler terms, by emphasizing on the importance of social networking amongst people in a society, which is a treasurable asset that helps them overcome challenges that arise in their community (Kwon & Adler, 2014). This indicates that such networking leads to the achievement of difficult or perceived impossible goals. Different theorists promoted the development of social capital theory. Among them are James Coleman, Robert Putnam, and Pierre Bourdieu. The three, with their different perceptions about the approach, promoted the rise of various concepts of the theory (Dubos, 2017).
Pierre Bourdieu perceived the theory as a total of potential resources that build upon long term networks of many or less institutionalized co-existence of acknowledgment, as well as mutual acquittance (Greenspan, 2014). This indicates a societal exclusivity, thus blocking the entry of new members from lower social class and others of the same social class. Bourdieu advocates that societies must co-exist beyond an economic level, as capital exists in three forms, viz social, economic, and cultural capital. The concept indicates that social relationship is beneficial to those of a higher social class in society.
Coleman argued that social capital is not individually owned, instead, it is a resource that exists in society for use by all members (Bourdieu et al., 2019). Therefore, the ideology in Coleman indicates that social capital is not a single entity; thus, its dictated by its functions and has typically two characteristics. That is the promotes some actions of individuals in a social structure, and is a factor of a society. The idea indicates that individuals only assist each other for a benefit in return.
Robert Putman is the most significant contributor and most influential in the evolution of social capital theory (Luoma-aho, 2018). The theorist perceived social capital theory as frequent interactions between strangers in a task that results in building and sustenance of values and social networks, thus, creating trust and reciprocity that promotes mutual collaboration. Therefore, Putman shows two forms of social capital, which include bridging social capital, as well as bonding social capital (Bourdieu et al., 2019). Bonding social capital strengthens older relationships while bridging social capital creates interactions between members of different societies.
Summary of the theory
The three authors perceive the theory differently. The theory concept of Bourdieu is less sensitive to those less privileged in the society, as it states that individuals in higher social class own social capital. Coleman perceives social capital as a tool for use in a community, while Putman indicates that social capital occurs in two forms, that is, bringing and bonding. The definition of social capital theory by Putman is crucial, and applicable in the study, as social media marketing involves creating new relationships, as well as sustaining the existing ones.
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