Today's turbulent business environment, characterised by rapid technological changes and increased globalisation, has swept away industry and market conditions that previously defined competitive conditions. Such an environment requires flexible strategic solutions that respond quickly to these rapid changes. This chapter will therefore look at the need for dynamic strategy in today's business basing on the systematic review of relevant literature. It will also focus on the need for dynamic capabilities and competencies that are necessary for coping with the ever changing business environment. The chapter highlights that capability differentials among firms are a result of choices made by management. This explains why some firms are more adaptive than others and more flexible firms have been seen to perform better under uncertain environments.

PurposeThe purpose of this paper is to assess the feasibility of strategic planning in times of turbulent economic conditions.Design/methodology/approachThis paper discusses how various Zimbabwean organizations incorporated the aspect of strategic planning during the period 2007‐2009 in order to establish its relevance in different economic situations.FindingsStrategic planning process is very difficult to carry out during turbulent economic conditions though there are some aspects of the process that are indispensible.Practical implicationsOrganizations can survive without sticking to their strategic plans in times of turbulent economic environment.Originality/valueThe situation that prevailed in Zimbabwe in 2007‐2009 was unique and this paper endeavours to analyse the feasibility of strategic planning in a turbulent economic environment.