Getting New Things Done: Building Networks to Innovate and Expand Opportunity | David Obstfeld
Nov 19, 2024
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David Obstfeld, an Associate Professor at CSU Fullerton and founder of the Social Capital Academy, dives into the critical role social networks play in economic mobility. He shares how first-generation college students often struggle without access to valuable connections. The discussion also highlights the significance of mentorship and innovative networking strategies to bridge economic gaps. Obstfeld emphasizes that it's not just what you know, but who you know, advocating for transformative initiatives to empower underserved students.
David Obstfeld's research indicates that access to social networks significantly influences economic mobility, particularly for disadvantaged individuals.
The Social Capital Academy was established to equip underrepresented students with essential social and cultural capital for career success.
Understanding the roles of brokers and triads within networks can enhance organizational innovation and foster collaborative environments.
Deep dives
The Role of Social Networks in Economic Mobility
Research by economist Raj Chetty emphasizes the significant impact of social networks on economic mobility, particularly among socioeconomically disadvantaged individuals. Chetty's analysis of around 70 million Facebook users revealed that high school friendships with wealthier peers were crucial for those in the lowest quartile of wealth. This finding underscores that the presence of diverse social connections can serve as a vital factor in overcoming social inequality. Without such networks, individuals may face substantial barriers to achieving upward economic mobility.
Challenges Faced by First-Generation College Students
First-generation college students often struggle to secure job opportunities after graduation, as highlighted by research indicating a strong link between access to social networks and favorable financial outcomes. Wealthier students typically enter college with established connections that help propel their career success, while their less privileged counterparts remain at a disadvantage due to a lack of social capital. This gap in access can hinder first-generation students from leveraging job opportunities that could enhance their economic situations. Addressing these disparities is essential to support these individuals in navigating their career paths.
Establishment of the Social Capital Academy
In response to the challenges faced by underrepresented students, David Obstfeld initiated the Social Capital Academy, aiming to equip them with the social and cultural capital necessary for career success. The program provides mentoring, networking, and skill-building workshops that are crucial for enhancing the participants' visibility and connection with potential employers. By strategically introducing students to professionals in their fields of interest, the academy enhances their prospects for internships and job placements. This initiative seeks to reshape the trajectory of students' careers by fostering key connections within their industries.
The Evolution of Network Analysis in Understanding Innovation
The discussion highlights the evolution of network analysis as a tool for understanding innovation within organizations, linking it to the knowledge-based view of the firm. This perspective posits that access to knowledge through interconnected networks is crucial for competitive advantage. In particular, different types of network structures can either facilitate or hinder innovative efforts. By examining the roles of brokers and triads in social networks, organizations can enhance their capacity to innovate while recognizing the importance of both structural positioning and strategic engagement in the innovation process.
The Benefits and Mechanisms of Effective Brokering
Effective brokers play a critical role in connecting disparate networks and facilitating the flow of information and resources. The discussion differentiates between various broker roles, including conduits who transfer knowledge and active connectors who cultivate relationships. The ability to navigate these roles strategically can lead to increased innovation and collaboration within organizations. Furthermore, brokers help foster environments of trust and reciprocity, which can be vital for the long-term success of both individuals and organizations in rapidly changing contexts.
David Obstfeld, a tenured professor with over 15 years of research experience, saw a troubling trend at universities: first-generation college students were struggling to secure job opportunities upon graduation, leaving them at a disadvantage compared to their peers. His research revealed a clear link between economic background and access to social networks, with wealthier students gaining social capital that propelled their career success above those around them. It wasn’t what they knew - it was who.
This insight led David to establish the Social Capital Academy, an initiative designed to help underrepresented students build the social and cultural capital they need to succeed. Through mentoring, networking, and skill-building workshops, Obstfeld is transforming the trajectory of students’ careers and helping bridge the gap in economic opportunity.
David Obstfeld is an influential researcher, author, professor at CSU Fullerton, and the founder of the Social Capital Academy.
In this episode, Dart and David discuss: - The evolution of network analysis - Social networks and the role of social capital - Why getting new things done drives company success - A knowledge-based view of the firm - The role of brokers and triads in social networks - Pros and cons of open vs. closed networks - Whether social skills are innate or developed - Perspective articulation - Scalable models that build social capital for underserved groups - And other topics…
David Obstfeld is a Professor of Management at California State University, Fullerton, and an influential researcher focused on social networks, innovation, and social capital. As the founder of the Social Capital Academy, Obstfeld works to empower students from underrepresented backgrounds by teaching them to leverage social and cultural capital to advance in their careers. His book, Getting New Things Done: Networks, Brokerage, and the Assembly of Innovative Action, examines how networks and brokerage drive creativity and organizational innovation.
David received his A.B. from the University of Chicago and his PhD from the University of Michigan’s Ross School of Business. He has served on the faculty of NYU’s Stern School of Business and UC Irvine’s Merage School of Business. His widely cited research has received major grants, including from the National Science Foundation, to further investigate organizational and social dynamics.
Work with Dart: Dart is the CEO and co-founder of the work design firm 11fold. Build work that makes employees feel alive, connected to their work, and focused on what’s most important to the business. Book a call at 11fold.com.
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