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Entrepreneurs are argued to have higher foresight, ability to handle complex situations, and superior planning. This qualitative study attempted to validate these assertions in the pandemic context of COVID19. The pandemic created a complex and chaotic business environment. The information was available to businesspersons of the region before a quarter. Did they show adequate foresight to assimilate information and respond to the crisis? How complex was the situation for planning? What entrepreneurial characteristics were demonstrated? A qualitative study design sought and analyzed business owner’s responses to these questions. Though the findings are not generalizable, it indicated inadequate but reactive response. Secondly, the challenge of reduced cash flow prompted cost cutting as an operational response. The plan of winning trust in transactions was also an operational response. A few perceived pandemic as an opportunity for product innovation. Business owners demonstrated empathy toward their employees. Interestingly, most business owners indicated fluidity and inadequate information as a barrier for planning. Information acquisition, seeking help from network, responding to imminent events, wait and watch, were predominant operational responses, whereas innovation and shifting of sectors were strategic responses considered by few entrepreneurs. The perception of superior entrepreneurial abilities in anticipating events, planning, strategizing, and handling complexity was less evidenced in this study.

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.

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