Placing social capital in business networks: conceptualisation and research agenda

Abstract

Purpose-The paper aims to refine conceptual treatment of the social facet in business relationships and reinforce its significance in the IMP research tradition by integrating the concept of social capital in its original interpretation into the ARA model. Design/methodology/approach-The paper begins by indicating some typical conceptual challenges associated with application of social capital in IMP. This is followed by a conceptual clarification that explores the origin and the essence of social capital in economic sociology. Finally, the paper proposes integrating social capital in its original interpretation into IMP's ARA model and presents four propositions on how social capital is created in interaction between business actors. Research limitations/implications-The paper is expected to aid IMP researchers in empirical contexts where the social component in business relationships is particularly prominent. As such, the novel approach presented could be used to further understand how social exchange processes are related to relationship governance, relationship initiation and development. Findings-The paper shows how bridging Bourdieu's theory of social capital with the IMP approach may solve the identified conceptual challenges. This paper's main contribution is a cyclical model depicting how social capital is created in business networks. It is integrated into the ARA model and designed specifically for studying the social facet of business relationships. Originality/value-The proposed model shows how social capital is generated through the dynamic interplay in the social facets of actor, activity and resource dimensions, emphasising its creation dynamics. The model integrates insights from the classic works in economic sociology to strengthen the social side of IMP's socioeconomic interface and is intended to be used as a tool for empirical application.

Friends or strangers? Attempts at reactivating buyer–supplier relationships

“…In addition, the parties involved in a relationship may develop strong social bonds, which resulted in feelings of trust and contributed to the formation of social capital and value (Bondeli et al, 2018). Social bonds refer to the friendship and positive relations in general shared by people involved in an interfirm relation (McDonald and Westphal, 2003).…”

Conviviality as social practice in business relationships: concepts and insights from a case of expatriates

“…One context in which such an analysis can be carried out is that of social practices. Bondeli et al (2018) investigate the social dimensions of the business relationship conceived in three layers (actor bonds, activity links and resource ties) as components of the A-R-A model. Social practices within the activity layer are one dimension; among the activities, actors undertake, participation in "social exchange episodes" (Håkansson, 1982, p. 17) is something to be experienced as it contributes to maintaining social cohesion and generating commitment.…”

“…Resources in the resource layer are assets accessible through relations between actors. As Bondeli et al (2018) demonstrate, social practices foster mutual recognition and mutual commitment in social connections favouring the generation of resources that relate to interactions in a business relationship. By examining social practices, then, it is possible to understand how certain resources are generated by social relations, which, in turn, impact on business relationships.…”

“…This role may be large because of the resources of which social relations are bearers. It follows that business relationships interact with social capital (Bondeli et al, 2018). Considering social capital as a sum of resources, IMP researchers point out that resources emerging from social relations can mobilize interactions in business relationships (Batt, 2008;Mandj ak and Sz ant o, 2010;Raskovic, 2015).…”

“…The context of our analysis is that of social practices. They generate, in fact, social spaces that mobilize resources relating to business relationships (Bondeli et al, 2018). These spaces make it possible to explore how social practices fuel a sensemaking process of resources-asoutcome.…”