Paying no dividend would help the company preserve cash, and ensure "strategic flexibility", Nokia said in a statement.

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He says it forces you to give up strategic flexibility.

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Keeping the old preferred shares in place gives any eventual buyer of Strategic the flexibility to make that call for itself.

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Strategic and tactical flexibility should be taken into account, but do not mitigate the threat posed by the objective toward which any political force is striving.

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And that unlimited flexibility presents a huge strategic problem.

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He also headed Apple's Macintosh division and played a key role in the continued development of strategic reseller and supplier relationships, ensuring flexibility in response to an increasingly demanding marketplace.

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In times like these, businesses are being much more strategic in sourcing additional talent and maintaining work force flexibility.

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However this flexibility also gives Colgate more options to defend itself, for example by raising debt to pursue non-strategic acquisitions in an attempt to avoid takeover bids and lever up its balance sheet to make it less attractive.

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This strategic momentum has carried into 2012, as the recent WTO agreement with China, highlighting IMAX, should enhance programming flexibility in our biggest international market, and we have also made early progress toward igniting network growth in Latin America and Europe.

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