“…This adaptive capability is known as strategic flexibility and refers to the "ability of a firm to reallocate and reconfigure its organizational resources, processes, and strategies to deal with environmental changes" (Zhou and Wu, 2010, p. 549). Following prior literature, strategic flexibility is classified as an important dynamic capability (Eisenhardt et al, 2010;Teece et al, 1997), which represents the ability to build, integrate, and reconfigure operational capabilities (Helfat and Peteraf, 2003;Kortmann et al, 2014;Teece et al, 1997). Hence, by continuously creating and recombining resources in novel ways, dynamic capabilities have a direct impact on operational capabilities (Helfat and Peteraf, 2003;Kortmann et al, 2014).…”