International Conference on Project Management 2024 1 Andrés Camilo Aponte-López1, Oscar José Torrealba2. 1. Corporación Universitaria Minuto de Dios; andres.aponte@uniminuto. edu; ORCID: https://orcid.org/0000-0003-4998-7945. 2. Datatá Consulting; oscarher89@gmail.com; ORCID: https://orcid.org/0009-0003-9339-8379 TITLE: Toward a Deep Understanding of Strategic Agility: A Thematic Analysis of the Academic Literature. Abstract: This study delves into the concept of strategic agility as a new paradigm in strategic management, highlighting the need for organizations to rapidly adapt to the ever-evolving business landscape. Through a literature review, 150 articles were initially identified, of which 69 were selected for detailed analysis using a thematic approach. The research methodology involved a thorough examination of scholarly works from reputable sources such as Scopus, Web of Science, and Google Scholar, focusing on keywords like "strategic planning," "strategic management," "strategic agility," and "organizational agility." The analysis revealed that agility encompasses the ability to identify and seize innovative opportunities, explore new alternatives, and exploit existing knowledge and resources effectively. Strategic agility enables organizations to quickly adjust their direction, reinvent business models, and create customer value in response to market changes. The findings underscore the importance of organizational capabilities in navigating unpredictable environments and highlight the role of IT capability, knowledge management, and innovative climate in fostering agility. Overall, this study contributes to a deeper understanding of how companies can enhance their agility to thrive in a competitive and dynamic business environment. Keywords: project management; strategic planning; strategic agility; organizational agility. TITULO: Hacia una comprensión profunda de la agilidad estratégica: Un análisis temático de la literatura académica. Resumen: Este estudio profundiza en el concepto de agilidad estratégica como un nuevo paradigma en la gestión organizacional, destacando la necesidad de que las organizaciones se adapten rápidamente al panorama empresarial en constante evolución. A través de una revisión de la literatura, se identificaron inicialmente 150 artículos, de los cuales 69 fueron seleccionados para un análisis detallado utilizando un enfoque temático. La metodología de investigación involucró un examen minucioso de trabajos académicos de fuentes reputadas como Scopus, Web of Science y Google Scholar, enfocándose en palabras clave como "planificación estratégica," "gestión estratégica," "agilidad estratégica" y "agilidad organizacional." El análisis reveló que la agilidad abarca la capacidad de identificar y aprovechar oportunidades innovadoras, explorar nuevas alternativas y explotar el conocimiento y los recursos existentes de manera efectiva. La agilidad estratégica permite a las organizaciones ajustar rápidamente su dirección, reinventar modelos de negocio y crear valor para el cliente en respuesta a los cambios del mercado. Los hallazgos subrayan la importancia de las capacidades organizativas para navegar en entornos impredecibles y destacan el papel de la capacidad de TI, la gestión del conocimiento y el clima innovador en el fomento de la agilidad. En general, este estudio contribuye a una comprensión más profunda de cómo las empresas pueden mejorar su agilidad para prosperar en un entorno empresarial competitivo y dinámico. Palabras clave: gestión de proyectos; planificación estratégica; agilidad estratégica; agilidad organizacional. International Conference on Project Management 2024 2 Introduction Companies require a greater response capacity in light of an increasingly volatile business environment [1], which implies a more competitive market and assumes a higher probability of failure. In this way, companies need the agility to adapt their business models and strategically align with a constantly changing environment. This implies the capacity to quickly identify opportunities and make the necessary changes to organizational and operational processes to take advantage of said opportunities [2]. For example, the average lifetime of a company on the S&P 500 decreased from 33 to 24 years between 1964 and 2016, and this figure is forecasted to be 12 years by 2027 [3]. In fact, [3] estimate that half the companies on the S&P 500 would be replaced by 2028. The current rate of change is faster than ever, and the players that will lead the markets in the future are not even known today [4]. In any organizational environment, studies on strategy and organization indicate that strategy as a sequential, planned or imposed process from the top is an essential but not complete requirement to ensure compliance with decisions [5]. As a result, the concept of “agility” is receiving more attention, and the production of knowledge on this topic is increasing. Books, articles, academic literature and the professional press address agility and how it can help companies in light of impending change and external threats [1]. In this way, several IT and consulting vendors have shifted their efforts to providing agile transformation assistance. They provide a variety of organizational and technical solutions that help achieve a certain desired level of agility, in order to handle unexpected waves of change [1]. Despite the importance of agility, there is no consensus on its conceptualization or clarity as to how it could be evaluated or implemented in a company [1]. According to [4], agility is prone to error, partly because it has been carried over from its applications in software development, without clearly articulating the underlying assumptions and objectives. However, according to [6], agility was defined in organizational terms for the first time in 1982 as the ability to react quickly to rapidly changing circumstances [7]. The concept of organizational agility emerged as an approach to increase competitiveness in a context of economic stagnation in the U.S. manufacturing industry. Regardless of the industry, managers agree that organizational agility is central to achieving competitiveness in today’s business environment [6]. The lack of conceptual clarity about agility is also widespread in applied organizational research, so it is common to find a significant number of definitions and disagreements [6]. The same is true for the concept of strategic agility, which is diffuse [8]. However, it is wrong to simply equate agility with speed and organizational change, because competitive advantages are achieved from a variety of sources, such as reflection, slowness and active waiting. The latter variant is especially relevant for high-reliability industries that are not supposed to be agile in a transformational sense [4]. The purpose of this work is to delve deeper into the concept of strategic agility in management field and explore how organizations can effectively navigate the challenges of a dynamic and competitive business landscape. By examining the principles of strategic agility, this study aims to provide valuable insights and practical strategies for companies to enhance their adaptability, innovation, and overall performance in the face of continuous change. Ultimately, this research seeks to contribute to the advancement of management practices and help organizations thrive in an environment where agility and strategic alignment are key drivers of success. Methodology International Conference on Project Management 2024 3 This study employed a systematic literature review to gather and analyze relevant studies on strategic agility. The research methodology aimed to provide a comprehensive understanding of the subject matter by examining a wide range of scholarly works from reputable sources. This approach allowed for a structured and rigorous analysis of existing literature on strategic agility. The primary data sources for this review included reputable academic databases such as Scopus, Web of Science, and Google Scholar. Keywords related to "strategic planning”, "strategic management”, "strategic agility" and "organizational agility" were used to retrieve relevant articles. The selection criteria for the literature review included the following parameters: articles had to be scientific, peer-reviewed publications dated from 2019 onwards (with exceptions for earlier relevant articles), written in English, and specifically addressing the topics of strategic planning and organizational agility. A total of 150 relevant articles were initially identified through the search process. Titles and abstracts were reviewed to determine their alignment with the selection criteria. Subsequently, 69 articles were selected for a detailed reading and in-depth analysis. A thematic analysis approach was employed to analyze the selected articles. This involved identifying patterns, trends, and key findings across the literature to derive meaningful insights and conclusions. Each of the 69 selected articles underwent a second reading, and a summary was developed for each article. These summaries were categorized based on their respective analysis themes to facilitate a comprehensive understanding of the research landscape. Results According to [9], agility refers to the ability to identify opportunities for innovation and seize them in the competitive marketplace by quickly and surprisingly assembling the necessary assets, knowledge and relationships. Agility involves both exploring and harnessing opportunities for market arbitrage. Exploration involves experimenting with new alternatives and seeking knowledge about unknown competitive opportunities. Exploitation involves using and developing what is already known, improving and expanding existing skills, technologies and knowledge. In addition, agility also encompasses a company’s capacities with respect to customer interactions, the orchestration of internal operations and utilization of its external business partner ecosystem. Overall, exploration activities enable these companies to adapt quickly to changes in external markets, which helps them be strategically agile. On the other hand, exploitation enables them to meet customer needs by continuously adapting existing products and services. The exploitation strategy enables companies to better understand how to more efficiently use current internal resources and capacities, which in turn allows them to be agile in reallocating resources to take advantage of new opportunities [10]. Thus, Organizational Agility refers to a set of business capacities to obtain favorable results in unpredictable and constantly changing environments [6]. It can also be defined as the ability to survive and thrive by reacting quickly and effectively in a competitive environment of continuous and unpredictable change, driven by customer-designed products and services [11,12]. On its part, the concept of strategic agility has a similar conception. It is defined as an organization’s ability to rapidly change its strategic direction and reinvent its business model and/or practices in response to market changes, seeking to continue creating and delivering value to customers. Organizations require strategic agility if they are to maintain or gain competitive advantages and create value [13]. International Conference on Project Management 2024 4 Strategic agility has been linked to organizations’ creation and delivery of value. In highly competitive and volatile environments, strategically agile organizations can rapidly change their business models as they effectively adjust their product innovation processes to create and sell new products that address disruptions or specific market demands, reinventing and improving value creation through new production methods, products and services [14]. At the same time, in changing markets, strategic agility has been identified as contributing to more effective ways of delivering value, such as launching creative marketing campaigns and improving sales processes [13]. Some definitions of organizational agility or strategic agility are presented in Table 1. Table 1. Definitions of strategic agility and organizational agility Source Definition [15] The ability to cope with unexpected changes, survive unprecedented threats in the business environment and seize changes as opportunities. [16] An organization’s capacity, through the proactive establishment of virtual manufacturing with an efficient product development system, to (i) meet changing market requirements, (ii) maximize the level of customer service and (iii) minimize the cost of goods, with the objective of being competitive in a global marketplace and seeking a greater likelihood of long-term survival and profit potential. Flexible people, processes and technologies must support this capacity. [17] Organizational agility is an enterprise-wide ability to cope with changes that often arise unexpectedly in business environments through rapid and innovative responses that exploit change as opportunities to grow and prosper. [18] An organization’s capacity to efficiently and effectively redeploy/redirect its resources to value creating and protecting value and capturing higher return activities as warranted by internal and external circumstances. [19] The ability to survive and thrive in a competitive environment of continuous and unpredictable change by reacting quickly and efficiently in changing markets, driven by “customer-defined” products and services. [20] A company’s capacity to survive and thrive in a competitive and unpredictable environment by responding quickly and effectively to any type of change—anticipated or unforeseen—in an appropriate and timely manner. Source Definition International Conference on Project Management 2024 5 According to [21], organizational agility is a broad concept that encompasses both operational agility and strategic agility. In other words, unlike other authors, it manages to differentiate one concept from the other. Specifically, organizational agility refers to an organization’s ability to develop flexibility on both an operational and strategic level. Operational agility focuses on the flexibility of the organization’s business processes. It implies processes’ ability to gain speed, precision and cost savings in exploiting opportunities for innovation and competitive action. Finally, strategic agility focuses on the organization’s ability to reformulate its offering and continually adjust its strategic direction. [8] state that the most comprehensive definition in the literature explains that strategic agility is a meta-capacity that helps organizations anticipate, react and take advantage of rapid changes in the environment, redefining their corporate strategies and adapting their competitive and functional strategies to survive and create value. [22] also define strategic agility as a meta-capacity that involves both allocating sufficient resources to develop and deploy all specific capacities and remaining agile by balancing those capacities dynamically over time. What these definitions have in common is that, in a complex and changing environment, companies need to be able to overcome the traditional organization’s inertia and have the ability to incorporate continuous strategic changes into their operations [4]. To increase its agility, a company must orchestrate a variety of options, reflect on them and decide rather than allowing inertia and sunk costs to define its trajectory. From this perspective, agility is defined as the freedom and ability to accelerate decision-making [4]. An organization can only be agile from moment to moment and can only be agile to the extent that it practices agility. It is therefore not just a matter of using resources effectively or developing new skills, or even being flexible, but of being able to respond to new situations through innovative methods and pragmatic and original solutions [23]. Conventional literature associates the concept of strategic agility with both dynamic capacities and ambidexterity (exploration and exploitation) [22]. The confused application of the concepts of agility and dynamic capacities reveals a critical discrepancy in these terms’ definition and understanding [6]. Even in recent literature, the application of terms is imprecise and not uniform, which generates confusion among readers. This discrepancy is fatal to the operationalization and measurement of strategic agility in organizations. In addition, research results focused on specific aspects of agility can be very difficult to compile and process to form an overall picture of the company [6], leading to the possibility of understanding strategic agility from a holistic perspective. According to [18], dynamic capacities are a company’s ability to innovate, adapt to change and create favorable change for customers and unfavorable change for competitors. They considered dynamic capacities a collection of processes, routines, knowledge and entrepreneurial skills specific to management teams. This definition could be confused with those applied to strategic agility or organizational agility. However, [27] establish that dynamic capacities focus on reorganizing and transforming resources in order to innovate both in products and processes, but are mainly related to adapting to external changes. [27] define strategic agility as a company’s ability to constantly renew itself and maintain its flexibility without compromising its efficiency. However, they state that, unlike dynamic capacities that respond to external changes, strategic agility focuses on systematically implementing these dynamic capacities to make continuous adaptations within the company’s structure of products, processes and services, but without necessarily being motivated by alterations in the environment. With respect to strategic agility capacities, [13] suggest that strategic agility, in order to anticipate developments, perceive opportunities and create value through innovation, is made possible with three specific capacities: The first is defined as customer agility and refers to an organization’s ability to closely interact and co-create with customers [13]. It refers to customers’ participation in searching for opportunities for innovation and competition. The second is defined as partnership agility and consists of the ability to exploit the resources and skills of partners [13]. Finally, operational agility refers to an organization’s ability to reconfigure resources to create new processes that take advantage of emerging opportunities [13]. It refers to the ability of companies’ International Conference on Project Management 2024 6 business processes to be fast, accurate and cost-effective in exploiting opportunities for innovation and competition [9]. Other capacities are also mentioned, defined as “meta-capacities,” which are the conjugation of strategic sensitivity, leadership unity and resource fluidity in a company [5,8, 24]. Strategic sensitivity refers to a capacity for proactive vigilance [8], relates to the degree of alertness around the exploration and exploitation of opportunities [5], and implies the company’s ability to detect opportunities, identify market needs and assess its own strengths and limitations [27]. Unity in leadership refers to the management team’s collaboration and commitment to adapt to changes in the environment [27]. This commitment is crucial to the feasibility of new value propositions and to making timely decisions that drive structural and operational changes necessary for value creation. Finally, resource fluidity refers to the ability to reconfigure and reallocate resources and capacities according to the new strategies established by the company, i.e. the ability to realign the structure with the business strategy [8]. The ability to allocate and redistribute resources allows for greater flexibility in reorganizing and adapting to new market demands, making it possible to reconfigure resources and revise the cost and revenue structure to reflect strategic changes [27]. [23] claim there are many more meta-capacities, among which competitive intelligence, strategic flexibility and organizational innovation stand out. Strategic flexibility is defined as a company’s ability to manage both unpredictable threats and available opportunities in an uncertain and unstable environment by combining flexibility with aspects of stability [23]. Organizational innovation refers to the process by which an organization acquires, shares and integrates knowledge in order to create new knowledge about products and services [23]. Lastly, according to [23] competitive intelligence is the process of gathering and analyzing information to identify the strengths and weaknesses of competitors. It helps managers make rational, evidence-based decisions, rather than relying on experience and instinct. It uses technology, such as software and business analytics, to accurately collect data and analyze the environment. It is a dynamic process that collects, analyzes and shares data, information and knowledge within the organization, thereby improving strategic decision-making. With that in mind, strategic agility originates from the coherent and consistent actions and skills of senior management, rather than from a structure or duality. It can be understood as the result of a combination of forces derived from the actions and skills of the individual managers involved in the collective action, which are ultimately grouped into the described meta-capacities [24]. Everything presented until now suggests that agility is not a stand-alone skill, but rather a characteristic resulting from a set of skills that integrate adaptability, speed, innovation, sustainability and organizational resilience [22]. Ultimately, if managers want to successfully develop organizational agility, they must be able to identify and influence all of the meta-capacities that are considered important [23]. Conclusions The insights presented highlight the critical importance of strategic agility in today's dynamic business landscape, emphasizing the substantial demands it places on leadership and organizational culture. As companies age, they naturally gravitate towards greater strategic rigidity, necessitating senior executives to abandon old habits and adopt new skills, practices, and behaviors to foster agility [24]. This transformation significantly impacts organizational culture, which comprises shared values and beliefs guiding behavior within the organization [25]. Organizational agility is not merely a function of agile frameworks within teams but requires a deep-rooted cultural shift towards an adhocracy balanced with clan, market, and hierarchy cultures [23]. However, managing a cohesive culture is challenging due to the presence of subcultures within departments and project teams, each developing distinct values and standards [25]. Achieving strategic agility demands that many individuals share similar behaviors, beliefs, and values, facilitated by a high degree of organizational learning and continuous International Conference on Project Management 2024 7 reflective attention [24,26]. In other words, it is not a partial practice executed by a particular group. Achieving overall strategic responsiveness requires a high degree of organizational learning, as it allows for increased internal knowledge, which is essential for developing strategic agility. A learning organization is one that integrates people and structure to drive continuous learning and change [26]. This is vital because strategic agility requires continuous reflective attention, commitment to self-learning, that of others, and conscious discipline in management [24]. Therefore, training is pivotal in fostering a strong learning culture, enabling employees to develop necessary skills and competencies essential for innovation and growth [26]. This cultural foundation supports activities such as creating strategic partnerships and developing new products, which are critical for maintaining agility [5]. Additionally, technological, relational, and innovative capacities significantly enhance organizational agility, positively impacting financial performance and product and process innovation [21]. Embracing digital transformation and adopting new organizational attitudes towards digital technologies are essential for advancing agility and improving business performance [13]. Leadership plays a crucial role in maintaining strategic sensitivity, especially in environments that prioritize predictability and steady growth. Leaders must develop an agile and strategic mindset to face daily challenges and expand their intellectual and emotional capacities, as operational excellence alone does not prepare them for strategic agility [24]. Future research should explore the interaction between technological advancements and organizational responsiveness, the role of leadership in fostering an agile culture, and the impact of strategic agility on long- term sustainability and performance metrics. By continuing to investigate these aspects, researchers can provide practical recommendations to help businesses thrive amid rapid change and uncertainty. In conclusion, the pursuit of strategic agility remains essential for organizations aiming to navigate turbulent waters and emerge stronger and more resilient in an increasingly volatile business environment. By embracing and integrating agility into their organizational culture and practices, companies can adapt swiftly and strategically to changing external conditions, ensuring sustained success and competitiveness. References [1] Van Oosterhout, M., Waarts, E., & Van Hillegersberg, J. (2006, April). Change factors requiring agility and implications for IT. 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