Strategic flexibility is a critical organizational competency in today’s dynamic global environment. This paper explores the impact of enterprise information systems on an organization’s strategic flexibility using the existing strategy and information systems literature to develop a theoretical model. Strategic flexibility is broken down into five first order constructs: Operational Flexibility; Human Capital Flexibility; Information Flexibility; Supply Chain Flexibility; and Financial Flexibility. These constructs are then used to develop a theoretical model and propositions of the impact of enterprise systems on strategic flexibility.