Agility in business is more than just a buzzword – it’s an essential strategy that will ensure that your organization remains ahead by 2025.
Agile companies tend to experience greater productivity gains and are better positioned to adapt to market shifts, yet adopting agility may prove challenging for some organizations – particularly larger enterprises accustomed to an established corporate culture.
1. Focus on the Customer
Focusing on customers is central to business agility. This involves gathering feedback, responding quickly to issues and revising plans accordingly; as well as being flexible enough to innovate quickly.
Customers’ needs are ever changing, making it essential that businesses adapt accordingly. For instance, during the COVID pandemic many businesses repositioned their products to better suit customer needs by staying customer-centric.
Another key element of business agility is creating an environment in which all employees feel empowered and can work when, where and how they choose. While this approach may initially cause some employees to resist, done properly it can become an invaluable asset to any company’s success – so leadership buy-in is imperative here if this strategy is to succeed! Foster a culture of learning among your staff members while helping employees meet any challenges that may arise along the way.
2. Involve Employees
At the core of business agility is an internal mindset permeating all levels and levels of the organization – one that encompasses each employee. While such an endeavor requires considerable time and energy investment, the results often reap unexpected dividends.
As an example, when employees can quickly adapt their workflows to new technology and processes, this helps the company move forward efficiently and improve morale; leading to greater employee retention – another benefit of business agility.
Business agility mindset can also enable organizations to identify and capitalize on emerging opportunities. Companies that practice agility in this way are better at anticipating market shifts and customer needs, giving them an edge over their competition. Netflix was one such company which took advantage of this growing demand for online streaming services by quickly transitioning from DVD rental model to service model; ultimately becoming the dominant force within its industry.
3. Be Flexible
When things go awry in business, often the root causes are due to inefficient processes that slow down operations. These causes often span multiple departments and even if individual delays only last two or three weeks at first glance can quickly add up into months, quarters and years for customers.
Staying ahead requires remaining flexible and adapting strategies when necessary, which requires using agile frameworks and methodologies which provide iterative work processes with built-in flexibility.
Flexibility requires an environment that supports risk-taking and empowers teams to make quick decisions. Leaders should incentivize innovation, let teams adjust strategy based on direct customer insights, and let purpose drive process. Finally, an organizational structure which permits teams to change roles and responsibilities on demand while still maintaining an agile framework is needed – only then can organizations achieve true agility.
4. Invest in Technology
Business agility is a journey that necessitates changes to culture, organizational structure and systems in order for an organization to respond swiftly and accurately to competitive threats, global disruption and new customer demand. Furthermore, it enhances innovation and risk management and helps reduce operating costs as well as staff turnover rates.
Start on your business agility journey by gathering real-time data to assess market conditions and customer needs. Next, clearly set desired outcomes and align teams on those goals. After that, use agile frameworks such as Scrum, Kanban or Lean to develop iterative processes before finally creating self-organizing cross-functional teams capable of making quick decisions to deliver value to customers.
Leadership support of the business agility initiative is of utmost importance and must provide assistance for their employees as they adapt new technology, workflows and processes. Employees may face some difficulty learning these technologies but with proper resources and encouragement can overcome any hurdles together.
