International Journal of Financial Technology Perspective

International Journal of Financial Technology Perspective

Business Resilience System based on Innovative Financial Instruments

Author
Mohsen Imeni
Assistant Professor, Department of Accounting, Ayandegan Institute of Higher Education, Tonekabon, Iran
Abstract
Purpose: Today, the business environment is constantly changing, and ignoring the hidden relationship between businesses and their environment can prevent new sustainable development opportunities. The purpose of this study is to explain the resilience system of businesses; through their appropriate recognition, enterprises can increase their capacity to deal with external shocks or adverse effects.
Methodology: In this research, the existing literature has been reviewed based on an archival study. Also, it discussed the concept of resilience and its place in the business environment and its analysis.
Findings: The results indicate that if small and medium businesses can not have adequate resilience to potential crises and problems, and if they cannot show the appropriate flexibility, they cannot survive in the current economic environment, and are doomed to destruction. Therefore, if businesses at the micro and meso levels want to resilience possible crises such as sanctions, COVID-19, etc., which affect their economic conditions, they must have a precise understanding of their strengths and weaknesses. Analysis of strengths and weaknesses can affect the future and the going concern of businesses. Recognizing risks and also using financial perspectives, including traditional, post-traditional, modern and post-modern, can help their protection.
Originality/Value: This research can provide new insights into the resilience literature in businesses, especially small and medium-sized, because the financial pressures caused by economic sanctions COVID-19, etc., could have positive and negative effects on the performance of companies..
Keywords
Resilience
Economic resilience
Business
Innovative financial instruments
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