Social Fluidity Mapping System—A Way to Reduce Social Stigma in Business Failures

P. Baba Gnanakumar ()
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P. Baba Gnanakumar: Sri Krishna Arts and Science College

Chapter Chapter 10 in Entrepreneurial Ecosystem, 2015, pp 241-257 from Springer

Abstract: Abstract The research explores the social stigma associated with the failure of entrepreneurial activity by means of escape velocity. Negative publicity, lack of financial intermediation, disgrace among the stake-holders and lack of social immunity causes social stigma. The research explored the effectiveness of the Social Fluidity MappingSocial Fluidity Mapping System (SFMS) followed by the entrepreneurs in the context of reducing the social stigma. The affinity created by the entrepreneurs with the society under the corporate social responsibility programme is well thought-out as the social fluidity for the purpose of research. The results contented that the social fluidity mapping is established on the basis of social cohesion theories. It also builds enterprise image. It leverages the social networks to develop business rapport. It establishes alliance strategy to reduce risk and build community funding system to reduce the financial turbulence. High escape velocity ratio leads to reduce the social stigma. The success of social fluidity mapping depends upon the leveraging the social network that creates entrepreneurial structural relationship among the stake holders. The customer reliability is no longer a significant competitive advantage, but trust among the society is a competitive advantage for an entrepreneur to reduce the social stigma related with business failures.

Keywords: Escape velocity; Gravity index; SFMS; Social currency (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-81-322-2086-2_10

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DOI: 10.1007/978-81-322-2086-2_10

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