Flexibility represents the ability of a manufactural system to adapt to some diversified tasks of production, thus to assure an economic efficiency – the rapport time/cost should be optimum, with insignificant structure changes within a long period of time. The central role of flexibility is to permit the survival and the success of the organizations in a turbulent circumstance, which is characteristic to the new world tendencies. The more flexible the organization becomes, the better it responds to the change. Firms, which are flexible, facilitate creativity, innovations and speed, all these being included into the organizational and coordination processes. In quick change conditions, flexibility is a competitive advantage. An organization should face both threats and inherent opportunities in an uncertain future and in an instable circumstance. Flexibility and promptitude are the qualities of the organizational success and the need to be flexible is an imperative of competition.
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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number
7947.
Find related papers by JEL classification: D2 - Microeconomics - - Production and Organizations M11 - Business Administration and Business Economics; Marketing; Accounting - - Business Administration - - - Production Management
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