Keywords: strategic flexibility, dynamic capabilities, organisational flexibility, resource flexibility, coordination flexibility, manufacturing industry
A conceptual examination of impact of dynamic capabilities in managing strategic flexibility in manufacturing sector
Fast and dramatic changes in customer demands, market, technology and competitor's action are creating a highly uncertain environment. To respond, manufacturers are seeking to enhance flexibility across the manufacturing system. Organisations need to be flexible to handle these fluctuations and uncertainty. Strategic flexibility has become a very important tool nowadays that equip the organisations with the ability to change levels of production rapidly, to develop new products and to respond quickly to competitive threats posed by environmental uncertainty. In order to survive in this highly volatile environment and to attain strategic flexibility, firms need to develop dynamic capabilities. This paper is an attempt to discuss various capabilities required to attain strategic flexibility and bring the contributions of various researchers in this area.