Sustainability and Resilient Strategies by Entrepreneurial firms in a VUCA world,

Abstract

Do incumbent entrepreneurs possess foresight? The COVID-19 pandemic has transformed, leaving us unshielded against unknowns. It has altered our approach becoming a prodigious Volatile, Uncertain, Complex, and Ambiguous (VUCA) moment. The post-COVID-19 world is likely to break the classical models of existing economic theories, compelling economies, and businesses to improvise their business models for sustaining in the 'new normal'. It requires a complex symphony between hindsight-insight-foresight combination to steer a deeper understanding. This statement embarks upon a principal research question, as to how do entrepreneurial firms muster resources in building sustainable and resilient strategies while surviving in a VUCA world? The authors deployed exploratory design, using case method for capturing insights on resilient strategies adopted by an entrepreneurial firm, Zolostays. This enterprise validated the proposition of optimal unification of entrepreneurial orientation and building resilient strategies indispensable for any organisation against the unfavourable and turbulent VUCA situations.