Sitting amongst the MBA guys at SJMSOM my ear carefully glued to S Gurumurthy's voice who was talking about different types of Capitals. I was aware of Financial capital as whole of the economic newspapers are filled with such stuffs.
He mentioned intellectual capital is the next important capital for any nation, as this would consume the first one. Next he spoke about Social capital. Difficult to generate and quite important for any society to flourish happily. Our nation had this extensively that is the reason why we were so successful until 19 Century.
I had no idea what the third one meant. After going through Francis Fukuyama's writings on Social Capital I came know how tough was to build this one.
Social capital is the trust and interconnection between groups of people/community. It may take generations to build. It is generally the result of common tradition and culture that people share.
Although on Wikipedia the definition of Social capital compares directly with monetary value. I feel, trust cannot be compared directly with money as output, as money cannot buy trust.
Other two capitals i.e. Financial and Intellectual can be generated by Government through Public policies, however Government cannot build Social Capital.
Also, Social capital has the capacity to build Financial and Intellectual capital.
These sorts of discussions are part and in curriculum of higher business management institutions.
There is some one studied not more than Fourth standard, who, not only understands the principles but implements it in the most magnificent way.
We all know Savjibhai Dholakia owner of Harikrishna Export. He deals in polished diamonds. Surat based businessman. Still clueless? Ok.
He is the person who gifted 200 flats, 491 Fiat Puntos and 525 Diamond jewellery 3.5 lakh worth each to his 1200 employees !!
And still he thinks that he hasn't given much and this is nothing if compared with the work they do.
Savjibhai Dholakia says when he analyzed that what made his 1 Crore company into 6000 Crores, He found that it was none other than his less educated workforce. According to him his employees are not less than Diamond Engineers and he has just given them loyalty bonus.
Its surprising to know that the selected 1200 employees pays a whopping TDS of 10 Crores.
The most wonderful thing I felt was his last set of statements.
He says I do not do Business, I do Social Business. My employees are from 21 different states spread over 361 villages. I know their father and mother and I send them on paid pilgrimage. I have taken the Social responsibility
This is my style of working !!
And still his company is not listed in Great Places To Work. Not even in the list of 100 !
Sources:
Image - http://www.newindianexpress.com/
Francis Fukuyama on Social Capital:
https://www.imf.org/external/pubs/ft/seminar/1999/reforms/fukuyama.htm#I
He mentioned intellectual capital is the next important capital for any nation, as this would consume the first one. Next he spoke about Social capital. Difficult to generate and quite important for any society to flourish happily. Our nation had this extensively that is the reason why we were so successful until 19 Century.
I had no idea what the third one meant. After going through Francis Fukuyama's writings on Social Capital I came know how tough was to build this one.
Social capital is the trust and interconnection between groups of people/community. It may take generations to build. It is generally the result of common tradition and culture that people share.
Although on Wikipedia the definition of Social capital compares directly with monetary value. I feel, trust cannot be compared directly with money as output, as money cannot buy trust.
Other two capitals i.e. Financial and Intellectual can be generated by Government through Public policies, however Government cannot build Social Capital.
Also, Social capital has the capacity to build Financial and Intellectual capital.
These sorts of discussions are part and in curriculum of higher business management institutions.
There is some one studied not more than Fourth standard, who, not only understands the principles but implements it in the most magnificent way.
We all know Savjibhai Dholakia owner of Harikrishna Export. He deals in polished diamonds. Surat based businessman. Still clueless? Ok.
He is the person who gifted 200 flats, 491 Fiat Puntos and 525 Diamond jewellery 3.5 lakh worth each to his 1200 employees !!
And still he thinks that he hasn't given much and this is nothing if compared with the work they do.
Savjibhai Dholakia says when he analyzed that what made his 1 Crore company into 6000 Crores, He found that it was none other than his less educated workforce. According to him his employees are not less than Diamond Engineers and he has just given them loyalty bonus.
Its surprising to know that the selected 1200 employees pays a whopping TDS of 10 Crores.
The most wonderful thing I felt was his last set of statements.
He says I do not do Business, I do Social Business. My employees are from 21 different states spread over 361 villages. I know their father and mother and I send them on paid pilgrimage. I have taken the Social responsibility
This is my style of working !!
And still his company is not listed in Great Places To Work. Not even in the list of 100 !
Sources:
Image - http://www.newindianexpress.com/
Francis Fukuyama on Social Capital:
https://www.imf.org/external/pubs/ft/seminar/1999/reforms/fukuyama.htm#I
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