morale, and training/developing employees. At the personal level, it implies an ability to communicate the vision of the enterprise throughout the company in such a way that employees embrace it and make it their own.
Recent research indicates that entrepreneurship should actually be considered a social process, making social knowledge critical to the success of a business. Howard Aldrich points out that entrepreneurship ôis embedded in a social context, channeled and facilitated (or inhibited) by a personÆs position in a social networkö and that ôas a result, successful entrepreneurs are especially skilled at using their time to develop relationships with people who are crucial to the success of their new ventureö (2). Granovetter also proposed a sociological embeddedness perspective, in which economic processes ôare affected by their embeddedness in social and structural relationsö (3). Social networks tend to be overlooked as factors in emerging businesses, but they can play a large part in smoothing the way for entrepreneurs and assisting them in making the connections they need to get their jobs done. Furthermore, social connections can bring about opportunities that are not available by any other avenue. Contacts can become resources, and resources can provide what is needed, when it is needed, to keep the business afloat.
Trying to start up a business without access to the network of contacts it needs to succeed can be risky. Therefore, once an entrepreneur determines which relationships are crucial to the businessÆs success, ômost of his or her time is spent building, negotiation, and maintaining these relationshipsö (2). Herb Kelleher, cofounder and CEO of Southwest Airlines, is an example of an entrepreneur who has mastered the social aspect of entrepreneurship. Regarded as a master of persuasion, Kelleher ôcharms, flatters, and jokes with employees and customers; he bullies competitors; and he battl...