Faraz Khattar – Week 44 – Entr & Networks Assignment #1

Faraz Khattar – Week 44 – Entr & Networks Assignment #1

Hi Everyone,

This weeks assignment for the course Entrepreneurship and Networks is to write a blog about the entrepreneurial outcomes that are attained through social networks.
Social networks are patterns of relationships or ties between a set of actors. These can be both formal (banks, accountants, lawyers etc) or informal networks (friends, family etc).

Lin (1999) writes in her article about two different types of outcomes regarding social capital: Instrumental and expressive. goals Instrumental goals are things that actually add something to the resource list of an entrepreneur. The return is the gaining of added resources, and those resources are not presently posses by ego’s, like (higher) education, status or prestige, promotion or salary increase, and job performance (Lin, 1999). Expressive goals focus more to protect the resources that you already possess. Linn (1999) describes them as: the return is the maintaining of possessed resources, like (mental) health, social support and accompaniment
I would like to present two examples of entrepreneurial outcomes that are attained through social networks in combination with both instrumental and expressive goals. I will take one of my friends as an example. He is 29 years old and has his own lunchroom in the pijp in Amsterdam. When we look at the instrumental goals that added to his not existence resources and the influence of his social networks, one thing is very important. When he hired the building it was empty and he had to look for ways to design the lunchroom in a fashionable way with as much as lower costs as possible. He could rent an extra 30.000 to design the place or he could use his network to do it. Fortunately for him he had an extremely handy informal network. His friends helped him to design the place and together with his father and friends they created all the furniture themself which eventually saved him a lot of money. As an expressive goal, mental health can be used as an example. He is very aware of his goals and the role that he wants to fulfill in society. The reason why he chose to become an entrepreneur is because he knew that he would never be happy if he had to work for someone else his whole life. He uses his social network to receive positive energy to keep going while working hard everyday. Also working with his brother gives him the possibility to switch and receive mental support.
It can be concluded that by using his social networks, this person attained positive entrepreneurial outcomes.

Faraz Khattar
2528091

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