Toward a social capital theory of competitive advantage in medical groups.
Social capital can have a positive impact on medical group performance. We forward our theory based on the integration of theories in social capital, resource advantage, and the resource-based view of the firm. Further, we suggest specific ways in which medical groups can increase their levels of social capital. First, medical groups should design or redesign the workplace so that there is ample interaction among employees. Second, employee participation within the community should be encouraged. Third, medical groups should recognize that social capital becomes ingrained in organizational culture. Therefore, medical groups should take steps to ensure a culture that supports its social capital. Fourth, hiring procedures should be designed (or redesigned) to ensure that new employees add social capital to the organization. Finally, trust must be fostered at the employee level.
Hoelscher
Mark L
ML
College of Business Management and Quantitative Methods, Illinois State University, Campus Box 5580, Normal, USA. mlhoels@ilstu.edu
Hoffman
James J
JJ
Dawley
David
D
D017598:Efficiency, Organizational; D006123:Group Practice / Q000191:economics / Q000458:organization & administration*; D006280:Health Workforce; D006801:Humans; D007398:Interpersonal Relations; D015279:Organizational Culture; D014481:United States