Financial resources and their impact on theorganizational resilience as a business familysustainability strategy
Authors: María Paulina Brito-Ochoa, María Asunción Sacristán-Navarro, Eva Pelechano Barahona and Fabricio Alfonso Vasco-Mora.
Language: English
Keywords: Financial resources, Organizational resilience, Family businesses Economic sustainability, COVID-19, Economic crisis in Latin America, Financial liquidity, Business closures, Sustainability strategy, Business adaptability, Long-term business resilience.
Summary:
The COVID-19 pandemic had a severe impact on Ecuadorian family business. More than 35% of organizations were temporarily shut down, while other15% of them were permanently closed. Companies should adopt the organizational resilience as their business strategy to guarantee a long-term viability.
Organizational resilience refers to the ability of a company to return to a stable stateafter an unexpected disruption to generate business sustainability. Financial resources are beneficial for organizational resilience due to the reason that a financialslack can absorb initial financial and material losses in times of adversity. This studyfocuses on knowing the impact of financial resources on organizational resilience as a business sustainability strategy in the context of the Ecuadorian family business.
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