Adaptive Firms’ Role in Business Ecosystems
Adaptive organizations are crucial to the business environment because they foster innovation, encourage competition, and ultimately help businesses stay successful and relevant during increasingly uncertain times. Businesses that are flexible, like those in the technology sector, have a lot of power because they are frequently at the forefront of introducing and advancing new trends and technologies. Furthermore, adaptive firms contribute to the competitiveness of the business ecosystem by allowing other organizations to observe and emulate their creative practices in order to compete in the same market. Being flexible allows businesses to support a thriving business environment and extend their own competitive advantage to an entire industry.