Keyword: adaptability in buisness
Adaptability (Latin: adaptō "fit to, adjust") in business is a feature of a system or of a process. This word has been put to use as a specialised term in different disciplines and in business operations. Word definitions of adaptability as a specialised term differ little from dictionary definitions. According to Andresen and Gronau adaptability in the field of organisational management can in general be seen as an ability to change something or oneself to fit to occurring changes. In ecology, adaptability has been described as the ability to cope with unexpected disturbances in the environment. However, the word definitions in these fields are just the starting points for detailed analysis of system adaptability.
With respect to business and manufacturing systems and processes adaptability has come to be seen increasingly as an important factor for their efficiency and economic success. In contrast, adaptability and efficiency are held to be in opposition to each other in biological and ecological systems, requiring a trade-off, since both are important factors in the success of such systems. To determine the adaptability of a process or a system, it should be validated concerning some criteria.
Source: Wikipedia
