International Journal of Research in Finance and Management
2021, Vol. 4, Issue 1
Strategic agility: Achieving superior organizational performance through strategic foresight
Arokodare MA and Asikhia OU
Firms globally encounter challenges of maintaining business superior performance over long period of time. 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. Majority of firms in the 21st century have recorded fast decline in financial and non- financial performance resulting from poor understanding of strategic agility dimensions to tackle global business trend 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 literatures shown that strategic agility and strategic foresight have significantly enhance firm superior performance. This paper recommended that organizational managers should employ strategic agility conceptual measures with strategic foresight in their business thinking, activities, process and direction so as to achieve superior performance.