An Approach to Business Resilience Based on of Critical Realism and Future Studies

Document Type : Research Paper

Authors

1 Department of Financial Engineering, Tabriz Branch, Islamic Azad University, Tabriz, Iran.

2 Department of Financial Engineering, Tabriz Branch, Islamic Azad University, Tabriz, Iran

10.22051/jaasci.2024.45501.1808

Abstract

Purpose: This research aims to identify the dimensions and influential components of business resilience and, using a grounded theory approach and in the context of future studies, develop strategies for achieving sustainability and resilience.
Method: The research methodology is mixed, with a qualitative part using a grounded theory approach and a quantitative part using a researcher-constructed questionnaire and structural equation modeling. The methodology of the research is of a mixed type, in which the qualitative part of the context-based method and the quantitative part of the researcher-made questionnaire and structural equation modeling are used. The period of the research is in 2023 and the statistical population consists of expert and experienced university professors in the fields of accounting, management and business, financial and executive managers of companies admitted to the Tehran Stock Exchange, and management accountants. In this regard, 14 in-depth and semi-structured interviews were conducted through purposive sampling. MAXQDA software was used for qualitative data analysis, and PLS software was used for structural equation modeling.
Findings: The results showed that among the causal and effective factors on the resilience of businesses, the economic factor that is caused by the state and non-free economy has an impact on resilience to the extent of (0.611) and the cultural, environmental, and social factor to the extent of (0.463). Also, the managerial and political factors are effective as an intervening factors to the extent of (0.569). Structural and technical strategies with a coefficient of (0.658) and management and political strategies (0.451), as well as economic platforms with a ratio of (0.631) and cultural, environmental, and social platforms with a ratio of (0.589) in creating the necessary platform and strategy raising businesses, are effective in the current economy.
Conclusion: The consequences of using the resilience model of businesses at the macro level include increasing the growth of the gross domestic product and reducing the unemployment rate, creating an effective information system to control the processes, and strengthening the businesses in dealing with economic shocks and at the micro level as well, the satisfaction of employees and other stakeholders from The performance of companies and the improvement of working capital will be. The key factors of resilience are not only limited to material resources but also gaining legitimacy from providing social benefits, equipping network resources, and providing intangible resources as the main axes of business resilience.
Knowledge Enhancement: The innovation of the research is the combination of qualitative analysis and experimental test to identify the drivers effective in the resilience of businesses in Iran, which tries to provide a coherent approach to the resilience of businesses based on the theory of critical realism and futurism based on the adaptation of the views of experts in the accounting profession.

Keywords

Main Subjects

References

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History

  • Receive Date: 05 November 2023
  • Revise Date: 17 January 2024
  • Accept Date: 23 January 2024

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