“Managing Risks” versus “Taking Risks”: Revisiting an Underestimated Distinction between Managers and Entrepreneurs

Cristian Dîrvă and Anda Simona Dîrvă

Eastern European Journal for Regional Studies (EEJRS), 2019, vol. 5, issue 1, 112-124

Abstract: The catallactic functions within a firm are the same, irrespective of production scale or organization typology. That being said, an “entrepreneurial perspective” projected on inter-/multi-/transnational corporations is just as legitimate, although usually the entrepreneurial element is associated with the “small business” managed by the owner himself. The entrepreneur, having an unmistakable role in the structure of production (still marred by ambiguities in some parts of the business literature), has the same identification data, from “self-employed” (for tax purposes) to “joint stock” companies. Every enterprise has at its core the idea of human action based on resource ownership (the property function), carried out in time (the capitalist function) and subject to uncertainty (the entrepreneurial function). These functions are related to specific business projects that are managed in a monetarily calculated manner in order to acquire profits. This article revisits the basic framework of the enterprise / corporation, placing there the entrepreneurial compound, inextricably linked to risk-taking, to which managerial activity, including risk management, is a complement, not a substitute.

Keywords: entrepreneur; manager; enterprise; corporation; profit; loss; uncertainty; risk. (search for similar items in EconPapers)
Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://csei.ase.md/journal/files/issue_51/EEJRS_5.1_p112-124_DIR.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:aem:journl:v:5:y:2019:i:1:p:112-124

Access Statistics for this article

Eastern European Journal for Regional Studies (EEJRS) is currently edited by Olesea SIRBU

More articles in Eastern European Journal for Regional Studies (EEJRS) from Center for Studies in European Integration (CSEI), Academy of Economic Studies of Moldova (ASEM) Contact information at EDIRC.
Bibliographic data for series maintained by Dr. Rodica CRUDU ().