"Cognitive flexibility" is a skill that enables us to switch between different concepts, and to adapt behaviour to achieve goals in changing environments. 

Unlike working memory (how much you can remember at a certain time), cognitive flexibility does not rely on IQ. 

Cognitive behavioural therapy (CBT) and structural learning are ways to improve cognitive flexibility.

Some of the greatest achievements have relied on creativity, imagination, curiosity, and empathy, not just IQ. 

Creativity is an important part in science and innovation, making flexible thinking important for innovation.

If you normally take the same route to work, but there are now roadworks, what do you do? Some people stick to the original plan, despite the delay. People with more cognitive flexibility adapt and problem-solve to find a solution.