Ronald S.Burt – Brokerage & Closure

Ronald S.Burt – Brokerage & Closure

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Social Capital, which is the advantage that a location provides over others, is an essential element of business strategy. It is becoming increasingly important to understand who has it, how it works and how to build it. As markets, organizations and careers become more dependent upon informal, discretionary relationships, so too are their capabilities. The formal organization handles accountability. All other relationships are informal, including advice, coordination and cooperation, friendships, gossip, knowledge, and trust.

Informal relationships have always been with us. They have always mattered. What is new is the variety of activities they now affect and the clarity that we now have about how they benefit certain people at their expense. This is accomplished through brokerage and closure.

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Ronald S. Burt draws on his renowned work in this area to explore how brokerage and closure work. 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 This is the tightening or coordinating of a closed network of people. People who do this do
Because of their trust and alignment, they work well as an addition to brokers. Brokerage And Closure These elements are what define social capital. This article explains how they work together and shows how reward, opportunity assignment, authority, and authority have all become obsolete in the business world.
associated with achieving competitive advantages in a social system of continuous disequilibrium.

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