Strategic Flexibility as a Key to Innovativeness: Theoretical Framework

The "Strategic Flexibility as a Key to Innovativeness: Theoretical Framework" paper delves into the evolving landscape of modern competition, highlighting the critical importance of strategic flexibility in today’s rapidly changing business environment. It examines how the competitive arena has undergone significant shifts, necessitating adaptability and agility in corporate strategies. A key focus of the article is the exploration of various theoretical perspectives on the concepts of "flexibility," "strategy," and "strategic flexibility." It sheds light on the different forms and levels of flexibility within organizations, emphasizing how these facets have been integral in the literature concerning organizational change and business strategy.

In the current competitive context, companies are increasingly confronted with multiple, often simultaneous, discontinuities that defy prediction. These challenges underscore the need for strategic flexibility in both managerial practices and governmental policies. The article argues that such flexibility is no longer optional but a crucial component for organizations to navigate and manage these unpredictable changes effectively.

The concept of flexibility is positioned as a characteristic that can render firms less susceptible to unexpected external shifts, or alternatively, enable them to respond proactively and successfully to such changes. This adaptive capability is particularly vital in an era where strategic discontinuities are altering the very nature of competition.

Furthermore, the article proposes that strategic flexibility is not just about survival or maintaining competitiveness. It posits that this agility can actively enhance a firm's innovation performance. By being strategically flexible, firms can not only weather unforeseen challenges but also seize new opportunities, driving innovation and growth.

The article provides a comprehensive overview of strategic agility, articulating its increasing relevance in a business world characterized by rapid and unpredictable change. It offers valuable insights for managers and policymakers on the necessity of embedding flexibility into their strategic thinking to stay competitive and foster innovation.

Publisher: C. Cobanoglu, & A. Corbaci (Eds.). Advances in Global Business and Economics, Vol. 1, University of South Florida Sarasota-Manatee, pp. 136–147. USF M3 Publishing. ISBN: 978-1-7321275-1-7.

The full manuscript of the "Strategic Flexibility as a Key to Innovativeness: Theoretical Framework" paper is available at: https://www.doi.org/10.5038/9781732127517.

Dmytro Shestakov, 2018