Business agility is a term that was coined to measure a commercial organization’s ability to adapt to the ever-evolving needs of their market. It’s important for them to keep abreast of developments within their field and respond with improvements to operations that reflect the fluctuating challenges facing their clients.
Know what you’re looking for
Companies with good levels of business agility are those that can respond more quickly and dynamically to new demands on their operation. This flexibility will help them to prove more productive in a crowded and competitive market, consistently outperforming competitors who are less prepared.
Some elements that can help improve business agility include the outsourcing of certain elements of operations. For example, the implementation of cloud-based telecommunications systems would allow for the scalability, flexibility, and efficiency businesses need to stay agile and competitive in today’s market. Cloud-based solutions allow businesses to keep up to date with the latest developments without continually incurring the expense of updating software and systems.
How to make your business more agile
Thus, one of the best ways in which you can build agility into your business is by selecting a heterogeneous leadership team made up of these entrepreneurial-minded visionaries, each of whom will bring their own set of skills and experience to your operation.
A heterogeneous leadership team leans more on having a mixture of cultures, abilities and life experiences that can create a stronger dynamic within a group. Individuals can be "experts" in roles such as leader, innovator, communicator and peacekeeper. This can be an organic development or roles can be provided on formation of the group.
It can be tempting for business owners to build homogenized office environments, perhaps selecting workers that remind them of themselves or of other employees who have performed well in the past. Seeking out diversity in background, education, and experience are key. People with different experiences will often apply different approaches, which can exponentially increase problem solving capacities, and improve the ability to respond to changes and challenges.
Another important element is your business strategy. Business strategies should be formulated with input from all key staff to ensure that the ethos and implementation are achievable across your organization. Strategies should be regularly reviewed to ensure they continue to meet the needs of your market.
Business strategies and structure should support efforts based upon prioritization. Having the ability to quickly allocate / re allocate personnel and resources to where it would be best utilized will allow for increased innovation, productivity and results.
Focus on acceleration
A business that wants to increase its agility should always look at where acceleration can be achieved. Being able to quickly grow areas of the business as they become more important to the operation helps a business to keep up with the changing demands of the market.
Automation and process streamlining are great ways of:
- Improving customer satisfaction
- Higher employment satisfaction.
- Reducing work duplication, if not eliminate it.
- Reducing costs.
- Reducing wasted resources.
- Less bottlenecks, allowing you to innovate continuously.
Investing in Company Personnel
Businesses need to ensure that staff members are comfortable and confident working with technologies as they develop. They should aim to provide ongoing training to keep workers up to date with the latest developments in both tech applications and how to evaluate their impact on performance. This can help keep your business at the fore front of innovation, responsiveness and customer satisfaction as well as allow the company the ability to maintain agility over time.
The Big Takeaway
Businesses that strive for improved productivity, process streamlining and automation all while investing in their employee’s placement and growth will have the upper hand as markets shift. Putting the company is a strategic position to capitalize on these shifts will mean the difference between market growth or decline.