Strategic Agility in Technology-Driven Business Environments: A Review of Adaptive Strategies Employed by Small Businesses

Technological developments fueled by the Fourth Industrial Revolution have resulted in disruptions and changes which require businesses to be responsive and adaptive. In the wake of this reality, strategic agility offers an opportunity for small businesses to adapt to changes and seize opportunities emerging in the business environment, as well as minimise the impact of threats. This paper examines adaptive strategies employed by small businesses to build and sustain strategic agility. Through a literature review, research established that lean innovation, digital transformation, strategic partnerships and agile workforce development are key strategies used for cultivating strategic agility in an organisation. The dynamic capability theory was used as an underpinning theory to explore the development of adaptive strategies that enhance strategic agility in small businesses. The research also provides conclusions and implications. Moreover, the research identified gaps that should be addressed by future research.