Section 2(76), read with Rule 3 of Companies (Specification of definition details) Rule 2014, d...
The term “agility” expressed in Latin as “agility” and translates literally as the ability to think and draw conclusions quickly (intellectual acuity) was first used in the parliamentary proceedings of the House of Lords in Britain before Lord Hinton between 1737-1738 in the 18th century.
Agility means an ability to move about quickly and easily. The concept of strategic agility describes a business’s ability to remain fluid, changing and updating operations as innovations become available. In this lesson, we look at how strategic agility applies to the development of new products and services.
The proposition examines the influence of dynamic abilities on tactical agility in a dynamic industry. The study considers what types of abilities motivation strategic agility of the case companies and in what ways. The study is connected to the theoretical discussions on planned agility and self-motivated competences in the field of strategic management, also connecting to issues in international business and management.
Strategic agility is an organization’s ability to think ahead of the market, quickly mobilize itself, adapt to market shifts, fill capability gaps, capture new revenue ahead of the competition, and even create new markets. Strategic agility requires going remote of arrangements, buildings, and processes, and allowing the fluid organization of teams to achieve loosely defined missions. It is an innovation playground.
The ability to continuously adjust and adapt strategic direction in the core business, as a function of strategic ambitions and changing circumstances, and create not just new product and services, but also new business models and innovative ways to create value for a company.
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Companies have usually responded to change finished strategic preparation and the forethought offered by scenarios, or through corporate ventures and an entrepreneurial drive. Today’s change is both fast –where ventures can provide an answer- but also complex (in the sense that it results from multiple hard to forecast systemic interactions). Strategic planning no longer fits because change is fast and unpredictable. so, does the need for strategic agility.
Strategic agility is a developed type of agility that in addition to rapid response pays specific attention to strategic aspects and predicting changes in the environment before they occur.
It begins with a focus on outcomes and the potential customer’s need, not the firm’s need as an innovator, or a shareholder’s need for financial returns. “Does the customer have a need for something?”
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