The Impact Of Social Capital On Business Performance

The deepening of economic globalization makes the enterprises face more and more fierce market competition. Internal resources of Enterprise cannot meet the need for survival and development. Enterprise also need to get resources from the external access. In this new situation, the study of social capital has become a hot research topic in the management. French scholar Pierre Bourdieu systematically puts forward the concept of social capital in 1985 for the first time. The study of social capital extend to the field of economics and management over time.Previous research has shown the enterprise can obtain tangible and intangible resources by building the external social network, which will help to improve the level of performance. Many companies did a lot of efforts to build social capital in order to develop in the fierce competition. However, the study found that many enterprises input a lot for building social capital, not bringing better performance. This makes the empirical research on the influence mechanism of social capital on the performance have an important social value.This paper is based on the theory of social capital, strategy-making process, tried to build the model of enterprise social capital, quality of strategy and enterprise performance, and discusses mediating role of strategy quality between the two. On the one hand, it enriched social capital theory and strategy-making process theory, on the other hand, also had the certain enlightenment for enterprise management practice.Through the analysis, conclusions of this article is as follows: corporate social capital(political social capital and business social capital) has a positive effect on corporate performance; Enterprise strategy quality has a partial intermediary effect between social capital and business performance; As the control variable of this study, different enterprise nature has different influence on strategy quality and enterprise performance, and enterprise scale has a positive effect on them.At the same time, based on the research conclusion reached enlightenment to management practices that enterprises should actively build the external social network, establish and maintain a healthy relationship with external stakeholders; Enterprises should pay attention to strategy management, improve strategy management ability; Enterprises should attach importance to the positive influence on enterprise performance which the strategy quality has.