IMPACT OF SOCIAL CAPITAL ON PERFORMANCE OF HOSPITALITY INDUSTRY. A CONCEPTUAL REVIEW.

Abstract

The influence of social value in economic behaviour of developing countries have continued to create a growing demand for social capital as a critical path to revitalize hospitality industry operation, build new capabilities and achieve sustainable economic growth. Despite these assertions, social capital faces challenges which raises concern about their survival and sustainability. Hence, the paper adopts a conceptual review of extant literature from reputable data bases that examined different dimensions of social capital in relation to performance of hospitality industry, with a view to have a synthesis of commentaries on the concept and theory from existing literature. The review focuses on sociological perspective of social capital which limit generalization of the review to anthropological perspective. The major gaps from the review were identified in order to justify the need for further studies. The study was premised on the social capital theory(SCT). A conceptual framework outlining the relationship between variables in the review was created. The finding of his study provide recent update on the dimensions of social capital as it positively influences the performance of hospitality industry. it is suggested that management of hospitality industry can use multiple dimensions of social capital as factors influencing the overall financial and non- financial performance.