Nowadays innovation-oriented development of particular socio-economic system is no longer considered as a result of some individual breakthrough, it was substituted by systematic work of specially created professional networks of different kind and size. Formal and informal interrelations among talented workers, knowledge management, creative environment, social capital, organizational culture
... [Show full abstract] becomes the new frontier of competitive advantage. The generalized structure of this process is presented on figure 1. Fig. 1. Elements of Modern Competitive Advantage Social capital is usually defined as "networks, norms and trust that enable participants to act together more effectively to pursue shared objectives" (Robert Putham). The Word Bank uses the following definition: "social capital refers to the institutions, relationships and norms that shape the quality and quantity of a society's social interrelations". Based on these definitions we decided to underline some general elements of social capital concept (see table 1) mostly important for the innovative activity.