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Home Definitions

What is an Adaptive Firm? Definition or Meaning

Posted by Bizversity

Imagine an elastic band. It will stretch whichever way you pull it and adapt to that shape. In business, having this trait means that your business is an adaptive firm. It means the business will change and grow according to market conditions and the environment, positioning themselves for profit and increasing their survival chances.

For example…

Take cell phone manufacturer Nokia. Did you know that they started off as a pulp and paper manufacturer in the 1800s? They ventured into power generation in the 1900s and then into telephones, plastics, computers and other electronic gadgets. Nokia is an example of an adaptive firm because they saw where change was taking place in the market, the consumer demand and trends and responded by developing and enhancing their products and services.

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Our Mission is to grow the people that move the world forward. Because business people change things. They learn, they create, they build, they disrupt. And when they do, they influence the people around them and the world becomes a better place. So if you are an entrepreneur, business leader, executive or startup, and you want to grow, welcome to Bizversity.

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