Home  Journals  Economic Analysis: Theory and Practice  29(428) - 2015 August

Economic analysis of social functions of business

Received: 10 June 2015

Accepted: 17 June 2015

Available online: 28 August 2015

Subject Heading: ANALYSIS OF SOCIAL AND NETWORK CAPITAL

JEL Classification: 

Pages: 2-13

Importance The problem of building and developing the social functions of business under modern conditions is one of the most significant ones in terms of theory and practice. The general direction of social and economic relations development in the modern society depends on this problem solution.
     Objectives The study aims at detecting spatial and functional features of implementing the social functions of business in modern Russia.
     Methods We offer a unique version of social functions of business, which cover not only relations between social groups in the sphere of value production and distribution, but also in the sphere of education, innovative activity, and income capitalization. We show the development of social functions of business in the country's regions over 2000-2013 based on the economic analysis.
     Results The research has revealed spatial and functional features of developing the social functions of business in Russian regions, strengths and weaknesses of business socialization in the virtual clusters of social and economic space of the country.
     Conclusions and Relevance We distinguish five virtual clusters in the country, which differ by original combination of social functions of business. The most developed Cluster A is described as comprehensively advanced, economical, focused on attracting the required quality labor, replacement of fixed assets, and not inclined to speculative capitalization of income. The last in the list is Cluster E. It focuses on generating income from property and income capitalization.

Keywords: social functions, business, regions, economic analysis

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