Answer: Option C
Explanation: Hyper competition is a situation of rapid changes in business environment which invites unpredictable opportunities and threats to the firms in the market.
A. Modularity can be defined as making different modules and then joining those to establish a complete system.
B. The rate of moving or completing a work.
C. The ability of getting modified as per the requirement is called flexibility.
D. The ability to maintain a certain level is called sustainability .
E. State of being occupied is called availability.
From the above explanations we can conclude that flexibility is the right answer.