Does your strategy balance commitment and flexibility?

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The details will vary from company to company, but every business needs to spend some time thinking about how to achieve greater flexibility in their strategy and operations.

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"The industry has evolved so that TV Everywhere and subscription video on-demand services can coexist with the appropriate windowing strategy, while allowing for more content flexibility to meet consumer demand in the changing digital landscape, " said Deborah K. Bradley, senior vice president of program acquisitions for Turner Broadcasting.

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The new referendum strategy, Mr Swinney reckons, gives the Nationalists the flexibility to get the referendum it wants, if it falls short of an overall majority.

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It can encourage the firm to put the bulk of its resources into a single business strategy that looks as though it is the winner rather than preserving flexibility to experiment and iterate the way to sustained profitability.

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In the (limited) sense that strategy is an unchanging commitment to something, it is the antithesis of flexibility.

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"It was an asset-light model that gave us a lot of flexibility, " says Gautam Watve, Renuka's head of strategy and planning.

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This strategy gives you the higher interest rate of the long term bond but also gives you flexibility to buy and sell the short term bonds if interest rates rise.

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"In the current difficult economic environment, these results are a tangible sign of the benefit of the flexibility afforded by the Scottish Friendly group and the strength of our diversify and grow strategy, " added Mr Lovatt.

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