Business Strategy and Policy
Flexibility refers to the ability of an organization to adapt quickly and efficiently to changes in the market environment, including shifts in consumer preferences, competitive dynamics, and regulatory conditions. This adaptability is crucial for identifying new opportunities and mitigating potential threats, enabling organizations to make strategic decisions that enhance their overall performance and sustainability. Flexibility not only fosters resilience but also allows businesses to optimize their operations through vertical integration and engage effectively in strategic partnerships.
congrats on reading the definition of Flexibility. now let's actually learn it.