The Concept of “Economic Entity” and Its Role in the Development of Russian Industry

The Concept of “Economic Entity” and Its Role in the Development of Russian Industry

Authors

Keywords:

Industrial enterprises, economic entity, business entity, economic activity, economic growth

Abstract

The development of economic relations in Russia has led to the need to study scientific ideas and approaches that consider the functioning of economic entities. In the modern scientific literature, the concept of “economic entity” is widely considered. Quite often this category is associated with the concept of “business entity”. At the same time, the authors who use this definition do not disclose its essence and content. The article defines and characterizes the main approaches to defining the concept of “economic entity”, examines the main views, reveals the role of representatives of the industrial cluster in the economic development of the country. The aim of the study is to provide a theoretical justification of the existing approaches to analyzing the concept of “economic entity” and to determine their role in the development of modern industry in Russia. To achieve this goal, we used dialectical, historical and systematic methods of studying the economic relations of economic entities in the context of economic transformation. In the course of the research, the authors reveal the causal relationships of the economic entities influence on the development of the Russian economy and industry. Thus, the thesis that currently economic entities carry out not only entrepreneurial, but also economic activities is confirmed. In addition, economic entities related to industrial enterprises have a significant impact on the development of industrial relations, as well as on the strengthening of related industries and intersectoral relations. Thanks to industrial enterprises, the pace of the country's economic development and scientific and technological progress is accelerating, and the well-being of the people is improving. The results of the study can be used in the future for studying the national industry in the context of the Russian economy transformation.

Author Biographies

Vitaly A. Umnov, Russian State University for the Humanities

DSc (Economics), Professor, Professor of the Department of Theoretical
and Applied Economics, Faculty of Economics, Russian State University for the Humanities, Moscow, Russian Federation.

v-umnov@yandex.ru

Ekaterina B. Makarova, Russian State University for the Humanities

Senior Lecturer, Department of Theoretical and Applied Economics, Faculty of Economics, Russian State University for the Humanities, Moscow, Russian Federation.

makarovaeb@gmail.com

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Published

2021-10-30

How to Cite

The Concept of “Economic Entity” and Its Role in the Development of Russian Industry. (2021). Public Administration. E-Journal (Russia), 86, 74-88. https://spajournal.ru/index.php/spa/article/view/185

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Scientific articles

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How to Cite

The Concept of “Economic Entity” and Its Role in the Development of Russian Industry. (2021). Public Administration. E-Journal (Russia), 86, 74-88. https://spajournal.ru/index.php/spa/article/view/185

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