Why is it important for organizations to be flexible in developing strategy? (2023)

Why is it important for organizations to be flexible in developing strategy?

Flexible firms rapidly shift from one strategy to another. So, they can realize different strategic actions in the competitive arena. Also, strategic flexibility enables businesses to obtain sustainable competitive advantage by making businesses become more proactive.

In addition to enhanced productivity, offering flexibility in the workplace helps organizations retain their existing talent, boost morale, and attract new talent. If employees can work from anywhere, then senior HR leaders and recruiters can cast a wide net to find the best talent available.

Flexibility in business is important because it makes employees feel more valued while building trust and fostering a more creative working environment.

In planning, flexibility means that everybody knows exactly what goal they are trying to achieve, but also that the path to it is not carved in stone (especially when it comes to software development).

Organizational flexibility is the ability to shift execution to a new initiative rapidly. It and strategic responsiveness comprise the two components of organizational agility. Organizational flexibility includes organizations' ability to put in place or adjust processes and organizational structures.

The more adaptable you are, the more leadership qualities you'll possess. This can include focus, motivation and an open-minded outlook. When others see you embracing change, it'll inspire them to do the same. Being adaptable will also help you earn the respect of your co-workers.

Defining a strategy will always be an important, necessary process, but flexibility has never been more important. If your strategy doesn't allow for adaptation when assumptions are no longer valid, then it's bad, no matter how perfect it was initially.

What is flexibility strategy in business?

Strategic flexibility is the ability of an organization to respond to changes in the environment in a timely and appropriate manner with due regard to the competitive forces in the marketplace. This flexibility may be achieved by the organization in several ways, both external and internal.

Summary. Strategic flexibility is the process of updating key strategies in a timely manner. This includes both enacting new resource commitments to adapt to the changing market conditions and halting and reversing existing commitments.

Flexibility helps performance, posture, promotes efficient movement, prevents incorrect body alignment, maintains appropriate muscle length and balance and also decreases injury risk.

That's why flexibility is so important. When you're flexible, you're versatile, resilient and responsive to change. You can adapt to unexpected demands in the workplace – sudden surges in work, urgent problems, or an unpredictable event , such as a cyber security breach or financial crash, for instance.

Examples of strategies include: digital media-based assignments; iClicker and on-line quizzes; a librarian- created tutorial and links to copyright-cleared readings; use of Calibrated Peer Review as formative feedback; TurnItIn for self-review; wiki sites, group blogs and community work through Community-based Action ...

Second, these variables can be grouped into three dimensions of strategic flexibility – product, process and customer – to convey a holistic understanding of strategic flexibility and its key determinants.