Although it may seem obvious that business must respond to the pressures brought by the prevailing environment, not many companies are gaining competitive advantage and some are even failing to survive.This research seeks to input measures that could be embraced by companies operating in a dynamic and competitive environment to survive or gain competitive advantage. To be precise, strategic agility is proposed as an essential virtue companies could embrace. Strategic agility involves tactfully detecting and responding to business environment with ease, speed, and dexterity. Moreover, the prevailing business environment characterized by intense technological innovation and obsolescence, powerful customers with diverse requirements and global choices and short product life cycle in a global economy have significantly shortened market visibility and increased uncertainty. Therefore, companies are working together in supply chains to overcome the environment pressures and take advantage of emerging opportunities. In addition, companies are making use of technologies taking into consideration the innovations. The focus of this research is to investigate how companies operating in a competitive and dynamic environment can make use of existent and emerging technologies to promote strategic agility.