Strategic Flexibility as a Key to Innovativeness: Theoretical Framework
The article reveals the main strategic changes of the competitive environment, determines the necessity of flexibility in the new competitive conditions. Flexibility in its various forms has long played an important role in the organizational change and strategy literature.
The theoretical approaches to the definition of the concept of "flexibility", "strategy", "strategic flexibility" are revealed. Various kinds of flexibility of the company and levels of strategic flexibility are reviewed. With the changed dynamics in the new competitive landscape, companies face multiple discontinuities that often occur simultaneously and are not easily predicted.
The article substantiates that managers and government policy makers are encountering major strategic discontinuities that are changing the nature of competition. Companies have to be flexible to manage discontinuities and unpredictable change in their environments. Flexibility has been a characteristic of an organization that makes companies less vulnerable to unforeseen external changes or puts it in a better position to respond successfully to changes. Strategic flexibility may increase innovation performance of a company.
Keywords: globalization, strategy, flexibility, strategic flexibility.
Publisher: Advances in Global Business and Economics Volume 1, Cihan Cobanoglu, Abdulkadir Corbaci, 2018, ISBN 978-1-7321275-1-7, University of South Florida Sarasota-Manatee, USA, Scholar Commons, Anahei Publishing, p.136-147.