2000s – Strategic Thinking: The 21st century brought a shift towards strategic thinking, which emphasizes creativity, intuition, and flexibility in strategy formulation. Strategic thinking encourages organizations to adapt to uncertainty and complexity by continuously scanning the environment, challenging assumptions, and fostering a culture of innovation.
2010s – Dynamic Capabilities: The concept of dynamic capabilities gained prominence in the 2010s. Dynamic capabilities refer to an organization’s ability to sense and respond to changes in the environment by integrating, reconfiguring, and leveraging its resources and capabilities. This approach emphasizes agility, adaptability, and learning as sources of competitive advantage.
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