How can an organization develop strategic flexibility?
A) It should commit resources only after thorough planning.
B) It should monitor and evaluate its past strategies.
C) It should depend on tried and tested perspectives from senior employees.
D) It should have multiple alternatives when making strategic decisions.
E) It should allow employees to participate in decision-making.

Question

Quizplus · Accepted Answer

Strategic flexibility refers to an organization's ability to adjust and adapt its strategies to changing circumstances and environments. Having multiple alternatives when making strategic decisions is essential for developing strategic flexibility, as it allows the organization to choose the best alternative that can address the current situation effectively. Committing resources only after thorough planning and monitoring and evaluating past strategies are also essential elements of strategic flexibility, but having multiple alternatives is the best choice for the given options. Dependent of tried and tested perspectives from senior employees, and allowing employees to participate in decision-making may not necessarily ensure strategic flexibility.

How Can an Organization Develop Strategic Flexibility