New list with variety and flexibility (11)
I believe the answer is:
versatility
'flexibility' is the definition.
(versatile means flexible or able to do many things)
'new list with variety' is the wordplay.
'new' indicates anagramming the letters.
'with' means one lot of letters go next to another.
'list' after 'variety' is 'varietylist'.
'varietylist' anagrammed gives 'VERSATILITY'.
'and' is the link.
(Other definitions for versatility that I've seen before include "Usefulness in being adaptable for different purposes" , "Flexibility" , "Skilfulness over a wide range" .)