A Longitudinal Study of Entrepreneurial Resilience and Strategic Adaptation at Kolhapur Rexine Store

Abstract

This paper presents a longitudinal case study of Kolhapur Rexine Store, discussing Mr. Rajendra Thakkar’s entrepreneurial journey of over 46 years. It explores how an entrepreneur from Sangli, Maharashtra, transformed a failing family business into a regionally dominant enterprise through resilience, adaptability, and strategic stakeholder engagement. Drawing on theoretical frameworks of entrepreneurial competencies, stakeholder theory, and crisis management, the study demonstrates how Mr. Thakkar applied principles of ethical leadership, opportunity recognition, and operational agility to navigate financial setbacks, environmental crises, and economic downturns, including the COVID-19 pandemic. The analysis is structured around key phases of his journey, highlighting a pattern of informed risk-taking, customer- and employee-centric decision-making, and context-driven innovation. The study further illustrates the role of emotional intelligence and generational succession in sustaining family-run enterprises. Findings suggest that entrepreneurial success in grassroots and resource-constrained settings is often achieved through consistent incremental actions rather than disruptive innovations. This case offers valuable insights for researchers, policy-makers, and aspiring entrepreneurs interested in building resilient and inclusive business ecosystems in emerging markets.