Definition

The ability to modify attitudes and behaviours to fit changed or changing circumstances.

Discussion

For me, this differs from flexibility in that adaptation is sticky. In other words, flexibility is a temporary bend that eventually bounces back to normal. On the other hand, adaptability means you are able to mold yourself into a new form that sticks until the next change of circumstances.

A spring will bend but bounce back (flexibility), but a metal coat-hangar will hold its new shape (adaptation).