Description: Agility means responding to rapid changes and continuous change management. With the rapid economic changes and unexpected market behavior, the virtual business networks have to adapt themselves to be able to respond in a timely and fast manner. Therefore agility provides the virtual business networks the ability to minimize losses and also as a risk deterrent. Agility can also be thought of as flexibility. The traditional businesses are more rigid in formulating a project flow and sticking to the plan till its completion.
