Final answer:
Strategic agility is the ability of a business to anticipate and address strategic challenges innovatively and flexibly, incorporating risk management, an entrepreneurial spirit, and the capacity to adapt to new cultures and challenges.
Step-by-step explanation:
Strategic agility refers to a business's capacity to anticipate and react to strategic challenges and opportunities in a flexible and innovative manner. It involves making decisions that encompass risk and resilience, as well as an entrepreneurial spirit, much like the way individuals make life choices under existential uncertainty. A business with strategic agility is capable of navigating changes by applying abstract thinking and recognizing that waiting for a crisis to become obvious may preclude an effective response.
A business must also be ready to make strategic sacrifices for the greater good and maintain a route that remains valuable, regardless of external changes. Just as with individual life choices, a strategy that is too rigid may lead to vulnerability, whereas one that remains flexible by imagining a more difficult future allows the business to endure and thrive. The presence of various types of teams, including problem resolution, creative, and tactical teams, play a vital role in the strategic agility of an organization.
Being strategically agile also ties in with the ability to solve problems effectively, often requiring a mixture of fluid intelligence to see complex relationships, creativity, and diversified problem-solving strategies. A company that embodies strategic agility can adapt to a new workplace culture with ease and quickly take on new challenges.