The Importance of Strategic Agility to Business Survival During Corona Crisis and Beyond
PDF

How to Cite

Elali, W. (2021) “The Importance of Strategic Agility to Business Survival During Corona Crisis and Beyond”, International Journal of Business Ethics and Governance, 4(2), pp. 1-8. doi: 10.51325/ijbeg.v4i2.64.

Abstract

Strategic Agility is seen by many researchers and analysts as an innovative newly developed management paradigm adopted by contemporary organizations to achieve distinction and outperform competitors under conditions of environmental instability and uncertainty. This article is an attempt to introduce the concept of Strategic Agility and to demonstrate its basic characteristics and the importance of adopting it by various organizations to achieve excellence and sustainability. In a competitive environment, characterized by acute turbulence and continual shocks, as in the current environment of COVID-19, strategic agility offers a viable means to harness non-linear scientific and technological breakthroughs with a view to profiting from both the dislocation in the consumer sentiment and behavior and the breakdown in supply chains. Moreover, the article highlights the interaction between strategic agility and firm performance and emphasizes the need to create agile organizations that will thrive in a volatile and uncertain world.

https://doi.org/10.51325/ijbeg.v4i2.64
PDF

References

Ahlbäck, K., Fahrbach, C., Murarka, M., & Salo, O. (2017). How to create an agile organization. McKinsey Quarterly. Retrieved from: How-to-create-an-agile-organization.pdf (mckinsey.com)

Al Shehab, N. (2020, October). Does Losing Jobs During COVID-19 Pandemic Affect the Knowledge Management in Businesses?. In 17th International Conference on Intellectual Capital, Knowledge Management & Organisational Learning ICICKM 2020 (p. 6).

Arokodare, M. A. & Asikhia, O.U. (2020). Strategic Agility: Achieving Superior Organizational Performance through Strategic Foresight, Global Journal of Management and Business Research (A), XX(III), pp. 7-16.https://doi.org/10.34257/GJMBRAVOL20IS3PG7

Brosseau, D., Ebrahim, S., Handscomb, C., & Thaker, S. (2019). The journey to an agile organization. McKinsey & Company, May, 10. Retrieved from: https://www.mckinsey.com/business-functions/organization/our-insights/the-journey-to-an-agile-organization

Denning, Stephen. (2018a). The Age of Agile: How Smart Companies are Transforming the Way Work Gets Done, AMACOM, New York.

Denning, Stephen. (2018b). What is Strategic Agility? Retrieved from: https://www.forbes.com/sites/stevedenning/2018/01/28/what-is-strategic-agility/sh=5a3c0ea9a0b1

Doz, Yves & Kosonen, Mikko. (2008a). Fast Strategy, Wharton School Publishing, Harlow.

Doz, Y., & Kosonen, M. (2008). The dynamics of strategic agility: Nokia's rollercoaster experience. California Management Review, 50(3), 95-118. https://doi.org/10.2307/41166447

Doz, Y. L., & Kosonen, M. (2010). Embedding strategic agility: A leadership agenda for accelerating business model renewal. Long range planning, 43(2-3), 370-382. https://doi.org/10.1016/j.lrp.2009.07.006

Hamel, G. & Valikangas. L. (2003). The Quest for Resilience. Harvard Business Review, 81(9), 52-63.

Junni, P., Sarala, R. M., Tarba, S. Y., & Weber, Y. (2015). The role of strategic agility in acquisitions. British Journal of Management, 26(4), 596-616. https://doi.org/10.1111/1467-8551.12115

Kosack, E., Stone, M., Sanders, K., Aravopoulou, E., Biron, D., Brodsky, S., ... & Usacheva, A. (2021). Information management in the early stages of the COVID-19 pandemic. The Bottom Line. Information management in the early stages of the COVID-19 pandemic. The Bottom Line. The Bottom Line (New York, N.Y.), 34(1), 20-44. https://doi.org/10.1108/BL-09-2020-0062

Long, C. (2000). You don’t have a strategic plan: Good. Consulting to Management, 11 (1), 35-42.

McKinsey & Company (2015). The Keys to organizational Agility, December 2015, https://www.mckinsey.com/business-functions/organization/our-insights/the-keys-to-organizational-agility

Morgan, Robert & Page, Kelly. (2008). Managing Business Transformation to Deliver Strategic Agility. Strategic Change, 17(5/6), 155-168. https://doi.org/10.1002/jsc.823

Rigby, Darrell., Sarah Elk, and Steve Berez. (2020). Doing Agile Right: Transformation Without Chaos. Harvard Business Review Press, Boston, Mass.

Smith, Elliot. (2020). Markets are facing a potential ‘Minsky moment’. CBSC. Retrieved from: https://www.cnbc.com/2020/09/03/markets-are-facing-a-potential-minsky-moment-collapse-strategist-says.html

Tilman, Leo and Charles Jacoby (2019). Agility: How to Navigate the Unknown and Seize Opportunity in a World of Disruption. Missionary.

Creative Commons License

This work is licensed under a Creative Commons Attribution 4.0 International License.

Copyright (c) 2021 Array

Downloads

Download data is not yet available.