Many scholars have suggested that strategic flexibility is a critical firm capability to survive in today’s competitive arena. But, where does strategic flexibility come from? We examine the relationships between top management team’s socio-psychological attributes (shared vision, social integration and political ties) and strategic flexibility, which we decompose into organizational flexibility and technological flexibility. We further examine how the level of competitive intensity can moderate the relationships. We test our hypotheses in a sample of 227 firms from China. We find that organizational flexibility mediates the impact of TMT social integration and political ties on technological flexibility. Our results extend previous research by highlighting the importance of TMTs socio-psychological attributes in driving technological flexibility, through the mediating impact of organizational flexibility.