Resilience and adaptability strategies in VUCA times: A case of City Explorers Pvt. Limited

Prof. (Dr) Manoj Joshi; Deepmalya Datta; Shefali Singh; Dr Anachamkandy  Dhiraj; Dr Prince Chukwuneme Enwereji (Corresponding author); Prof. Annelien van Rooyen

Authors

Prof. (Dr) Manoj Joshi Director, Centre for VUCA Studies Professor (Strategy & Entrepreneurship) Amity University Uttar Pradesh Lucknow Campus, Uttar Pradesh- 226028, India
Deepmalya Datta Research Scholar, Amity Business School, Amity University Uttar Pradesh, Lucknow Campus, Uttar Pradesh, India
Shefali Singh Research Scholar, Amity Business School, Amity University Uttar Pradesh, Lucknow Campus, Uttar Pradesh, India
Dr Anachamkandy Dhiraj Researcher,Centre for Indian Knowledge System, Kozhikode, 673601. Kerala, India
Dr Prince Chukwuneme Enwereji (Corresponding author) Department of Financial Accounting College of Accounting Sciences, University of South Africa
Prof. Annelien van Rooyen Department of Financial Accounting College of Accounting Sciences, University of South Africa

Keywords:

Entrepreneurship, Imaginativeness, resilience strategies, adaptability, foresightedness, COVID-19.

Abstract

The quintessential human lifestyle is rendered vulnerable in the pandemic world, with survival requiring creative resilience and adaptability skillsets. In an entrepreneurial world, entrepreneurs perceive opportunities when all others sweat in chaos. The story of the City Explorers Pvt. Ltd. (CEPL^®) stimulates the dormant and hidden world of experiential tourism, revealing an opportunity for showcasing local cultural and heritage products. Sachin Bansal, the Founder and Chief Explorer^® of the CEPL, believed that engaging individuals and communities in their heritage would positively sync the societal level and produce opportunities at the tourism front. With this imaginativeness, Bansal identified the value of cultural heritage tourism experiences, leading the industry with his foresight. The big question is how will the entrepreneurial venture of India City Walks™ (ICW^®), a pre-COVID brand with recognition and acclaim, navigate and survive the impact on the tourism industry amidst the emerging global economic lockdown and pandemic. Are strategies in place, or will there be an adaptive change? The case traverses on the principle of ‘survival of the fittest’ in the ecosystem of the local tourism industry. CEPL’s dilemmas included a volatile, uncertain, complex and ambiguous (VUCA) business environment. Its trajectory was observed through qualitative research methodologies, including field observation, in-depth interviews and a phenomenological research approach. The journey unveiled entrepreneurial imaginativeness by sharing and unlocking the value proposition of Indian heritage in an open, realistic, responsible and sustainable manner. Sachin’s ideation, action, resilience, adaptability and foresight amidst dilemmas resulted in building city-specific exploration brands drawing at-site resources and capabilities in the entrepreneurial journey.