Glossary
Glossary
- Bourdieu's Capital Theory
- A sociological framework developed by French philosopher Pierre Bourdieu that extends the concept of 'capital' beyond money to include social, cultural, and symbolic resources. In this paper, Bourdieu's ideas are combined with Putnam's network-based approach to create a richer understanding of how social capital functions within SMEs.
- Digital Transformation
- The process of integrating digital technology into all areas of a business, fundamentally changing how it operates and delivers value. The paper notes that crisis responses like adopting card payment machines are only superficial unless accompanied by deeper digital transformation of core processes.
- Hybrid Social Capital Perspective
- An analytical approach used in this paper that combines two major theories of social capital: Putnam's focus on networks and community participation, and Bourdieu's broader view that includes economic, cultural, and symbolic dimensions. Combining them gives a more complete picture of how social capital both helps and constrains SMEs.
- Longitudinal Approach
- A research design that studies the same subjects or organisations at multiple points in time to observe changes and developments. In this paper, interviewing the same SME representatives twelve months apart allowed the researchers to track how social capital and crisis management evolved over time.
- Organisational Agility
- An organisation's ability to make rapid, significant changes to how it operates in response to external pressures or opportunities. The paper highlights agility as essential for SMEs facing overlapping crises, going beyond mere flexibility to a fundamental capacity for swift strategic adaptation.
- Organisational Resilience
- The capacity of an organisation to withstand disruption, absorb shocks, and recover or adapt while continuing to operate. The paper argues that SMEs with strong social capital are better positioned to demonstrate resilience across successive overlapping crises.
- Polycrisis
- A situation where multiple serious crises — economic, political, and social — occur simultaneously and interact with each other in complex, unpredictable ways. The term was used by philosophers Morin and Kern in the 1990s and popularised by EU Commission President Jean-Claude Juncker in 2016. Unlike a single crisis, a polycrisis is characterised by non-linear cause-and-effect relationships and deep uncertainty.
- Purposive and Convenience Sampling
- Two methods of selecting research participants. Purposive sampling means deliberately choosing participants who have relevant knowledge or experience; convenience sampling means selecting participants who are readily accessible. This paper used both methods across two rounds of interviews to gather data from a range of SME representatives.
- Reciprocity
- A key attribute of social capital referring to the mutual exchange of support, favours, or resources between individuals or organisations, with an expectation that the favour will be returned over time. In the context of this paper, it is one of three core features — alongside trust and shared values — that define an organisation's social capital.
- Semi-Structured Interviews
- A qualitative research method where an interviewer uses a pre-planned set of questions as a guide but allows the conversation to develop naturally, enabling deeper exploration of topics. This paper used two rounds of semi-structured interviews, conducted twelve months apart with the same participants.
- Shared Values
- Common beliefs, norms, and priorities held by members of an organisation or network that guide behaviour and decision-making. Alongside trust and reciprocity, shared values are identified in this paper as a core component of social capital that helps SMEs remain cohesive and resilient during crises.
- SMEs
- Small and Medium-sized Enterprises — businesses with fewer than 250 employees and either a turnover below €50 million or a balance sheet total below €43 million. SMEs make up the vast majority of businesses in most developed economies and are especially vulnerable to external shocks.
- Social Capital
- The combined value of an organisation's relationships, networks, trust, and shared norms that can be drawn upon as a resource. In this paper it is treated as a strategic asset — similar to financial or physical capital — that helps SMEs survive and adapt during crises.
- Stakeholder Trust
- The degree of confidence and reliability that exists between an organisation and the people or groups it depends on, such as customers, suppliers, employees, and partners. The paper identifies trust as a central attribute of social capital that enables SMEs to access networks and resources during a crisis.
- Value Forms
- Groups, organisations, associations, and relationships that do not currently generate direct economic benefit for an SME but have the potential to do so in the future. The paper presents social capital as the mechanism through which SMEs can access these future value forms, particularly important during and after a crisis.