How can economic sociology help you build a stronger professional network?

1 What is economic sociology?

Economic sociology is a branch of sociology that examines how social structures, norms, values, and institutions affect economic actions and processes. It challenges the assumption that economic actors are rational, self-interested, and isolated individuals who only respond to prices and incentives. Instead, it shows that economic actors are embedded in social networks that influence their preferences, decisions, and opportunities. Economic sociology also explores how economic phenomena, such as markets, firms, and organizations, are shaped by social forces, such as culture, power, and politics.

2 Why are networks important?

Networks are sets of relationships that connect economic actors, such as individuals, groups, or organizations. Networks can provide access to information, resources, opportunities, and support that can enhance economic performance and well-being. For example, networks can help you find new customers, partners, or mentors, or learn about best practices, trends, or innovations. Networks can also increase your social capital, which is the value of your relationships and reputation in the eyes of others. Having high social capital can improve your trustworthiness, credibility, and influence.

3 How can you build trust and reciprocity?

Trust and reciprocity are key elements of successful networks. Trust is the belief that others will act in your best interest or honor their commitments. Reciprocity is the principle of mutual exchange or benefit. Trust and reciprocity can foster cooperation, loyalty, and satisfaction among network members. To build trust and reciprocity, you need to be reliable, honest, and respectful. You also need to be generous, helpful, and responsive. You should offer value and support to others without expecting immediate or equal returns. You should also acknowledge and appreciate the contributions of others and reciprocate when appropriate.

4 How can you create value and influence?

Creating value and influence means adding something useful or desirable to your network or enhancing your network's position or reputation. You can create value and influence by sharing your knowledge, skills, or expertise with others. You can also introduce or connect people who can benefit from each other. You can also participate in or initiate projects or initiatives that can solve problems or create opportunities for your network. You can also provide feedback, advice, or recommendations that can improve the quality or efficiency of your network's activities. By creating value and influence, you can demonstrate your competence, relevance, and leadership.

5 How can you leverage economic sociology?

Economic sociology can help you leverage your network by providing you with a deeper and broader understanding of the social aspects of economic life. You can use economic sociology to analyze the structure, composition, and dynamics of your network and identify its strengths, weaknesses, opportunities, and threats. You can also use economic sociology to assess the level and quality of trust and reciprocity in your network and devise ways to enhance them. You can also use economic sociology to evaluate the value and influence you create and receive in your network and develop ways to increase them. By leveraging economic sociology, you can optimize your network's potential and performance.

6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?