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.

(Video) Creating a Flexible Organization
(Roland Martin)
Why is organizational flexibility important?

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.

(Video) What are the benefits of a flexible working strategy?
(Peoplecorp HR Recruitment Specialists)
How important is it for a company to be flexible when it comes to changes?

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

(Video) Flexible Leadership: How Forward-Looking Leaders Adapt and Create Value
Why is flexibility so important in combination with planning?

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).

(Video) Action Strategies to Develop Resilience - Be Adaptable and Flexible
How do you develop a flexible strategy?

How To Keep Your Strategic Plan Flexible
  1. Frequently monitor both internal and external factors. Once your strategy has been executed, you should make sure it stays on track with a regular monitoring system. ...
  2. Involve the right people. ...
  3. Make contingency plans.
2 Nov 2022

(Video) Avoid Fads, but be Flexible - Management Strategy
(Bob Whittemore)
What are 3 reasons why flexibility is important?

Here are a few ways that increased flexibility is likely to help you.
  • Fewer injuries. Once you develop strength and flexibility in your body you'll be able to withstand more physical stress. ...
  • Less pain. ...
  • Improved posture and balance. ...
  • A positive state of mind. ...
  • Greater strength. ...
  • Improved physical performance.

(Video) Listen to El Niño: Why Developing a Flexible Supply Chain Matters
What does organizational flexibility mean?

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.

(Video) Strategies for Flexible Thinking
(OSES Services Team HISD)
What are the benefits of being flexible in the workplace?

  • Reduced costs. One of the biggest benefits of flexible working arrangements, particularly for large organisations, is the ability to save on costs. ...
  • Increased productivity. ...
  • Improved work culture. ...
  • Diverse teams. ...
  • Better retention. ...
  • Better recruitment. ...
  • Consider a flexible working arrangement for your business.

(Video) How to Create a Flexible Path & Pace Classroom | Personalized Learning
(Education Elements)
Why is it important to be flexible and adaptable in business?

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.

(Video) 3 ways to measure your adaptability -- and how to improve it | Natalie Fratto
Should a strategic plan be flexible?

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.

(Video) 'Working-From-Home': Flexible Strategies for Productivity and Culture
(Center for Asia Leadership)

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.

(Video) Flexible learning in uncertain times 3: Strategic management and planning
(University of London)
What is a flexible strategic plan?

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.

Why is it important for organizations to be flexible in developing strategy? (2023)
How does flexibility improve performance?

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

What are 10 benefits of flexibility?

The Benefits of Stretching
  • Decreases muscle stiffness and increases range of motion.
  • May reduce your risk of injury.
  • Helps relieve post-exercise aches and pains.
  • Improves posture.
  • Helps reduce or manage stress. ...
  • Reduces muscular tension and enhances muscular relaxation.
17 Jul 2020

Why is flexibility an important skill?

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.

What are 5 benefits of being flexible?

The benefits of flexibility
  • Prevents injuries. Well-developed strength and flexibility will make you capable of withstanding more physical stress. ...
  • Less pain. ...
  • Increased range of motion improves posture and balance. ...
  • Increased strength. ...
  • Greater physical performance.
18 Aug 2022

What are examples of flexible learning strategies?

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 ...

What are the elements of strategic flexibility?

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.

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