Role of entrepreneurial resilience in SMEs to promote marketing and entrepreneurship amid Covid19 challenges

Abstract

Purpose Resilient firms are more likely to survive crisis. This paper aims to investigate the resilient behavior displayed by small and medium enterprise (SME) owners in the pandemic context and the sequence of antecedents leading to resilient behavior. Design/methodology/approach Seven SME owners, from different business sectors, were interviewed twice in 8 months, to assess their actions and underlying entrepreneurial resilience. A model was developed depicting the sequence of activities leading to entrepreneurial resiliency behavior. The study was conducted in the capital city of Odisha, an eastern Indian state. Findings The results indicate that entrepreneurial resiliency is manifested in various forms where the SME owners engage in bricolage. Resiliency has an inevitable time dimension, where SME owners estimate the period for which adversity is likely to persist. They focus on alternative action to demonstrate resiliency. It was also learnt that revenue management during a crisis requires entrepreneurial marketing with innovativeness, opportunity seeking and value creation to improve resiliency. Research limitations/implications This research is important for policymakers who can strengthen resiliency through the support and provision of adequate information to SME owners. Educators can use the model for discussion and pedagogy. Finally, SME owners can evaluate their response behaviors to a crisis and draw insights. Originality/value The approach of the study was longitudinal and qualitative. This study contributes to the literature gap on resiliency in the context of emerging markets and SMEs.