Abstract
Firms globally encounter challenges of maintaining business superior performance over a long period. Most business organizations managers in today’s modern age, find it difficult to constantly achieve targeted business performance due to poor strategic insight and agility to manage uncertainty business environment and globalization in the 21st century. The majority of firms in the 21st century have recorded a fast decline in financial and non- financial performance resulting from a poor understanding of strategic agility dimensions to tackle global business trends and environmental turbulence. Theoretically, the study was conducted to investigate the link between strategic agility and firm performance through strategic foresight as part of antecedent of strategic foresight. The Dynamic Capability and Entrepreneurship Innovation theories were the underpinning theories for the study. Thus a conceptual model was developed to depict the interaction between strategic agility and firm performance through strategic foresight. Majority of past literature shown that strategic agility and strategic foresight have significantly enhanced firm superior performance.
Highlights
Organizations around the globe are in a continuous dilemma of maintaining business performance
Firms in different industries around the world. In this modern day of 21st-century where have experienced unstable performance, seemingly globalization, technology, innovation and diverse uncertain on strategies to employ in reacting to flexible products are boundary less to any economy, policies and unstable performance arising from organizations without strategic agility are bound to challenges in the local and international business experience competitive disadvantage and continuous context
Dynamic capabilities a long-term orientation, strategic foresight involves theory (DCT), which was developed by Teece, Pisano broadening the menu of policy options and taking into and Shuen (1997) was defined as “the firm’s ability to account future scenarios that might affect present integrate, build, and reconfigure internal and external decisions and enhance firm superior performance competences to address rapidly changing (Leigh, 2003; Baskarada et al, 2016)
Summary
Organizations around the globe are in a continuous dilemma of maintaining business performance. Dynamic capabilities a long-term orientation, strategic foresight involves theory (DCT), which was developed by Teece, Pisano broadening the menu of policy options and taking into and Shuen (1997) was defined as “the firm’s ability to account future scenarios that might affect present integrate, build, and reconfigure internal and external decisions and enhance firm superior performance competences to address rapidly changing (Leigh, 2003; Baskarada et al, 2016). In the opinion of Ambrosini, Bowman and Relatively, most of these past studies reviewed Collier (2009), to understand dynamic capabilities, the have not established the combined link between managerial perceptions of the need for change – strategic agility and firm performance dimensions in the functions of their perceptions of their firms’ external and manner in which this study have conceptualized internal environments need to be considered. A widely agreed upon view distinguishes creativity from innovation in that creativity refers to production of ideas, whereas innovation refers to the successful implementation of ideas (McLean, 2005)
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