Developing adaptability for new competitive advantage

Abstract

This paper elaborates on the four dimensions of the Reeves and Deimler adaptability theoretical framework (2011) to illustrate how environmental change upended the traditional business model that the Spanish footwear companies were used to. It then explains how Spanish small and medium-sized enterprises (SMEs) formulated strategies to renew the industrial structure and strengthen their adaptive capabilities to gain new competitive advantage. The paper analyzes the restructuring of the industry from a fragmented traditional model to an adaptive model in order to better respond to rapid environmental change and gain new competitive advantage.