What is Business Agility & Why is it Important?
Business agility refers to a business’s ability to achieve and sustain its full potential in its profits and people, regardless of internal or external changes. It enables organizations to deliver and innovate more efficiently, thus turning market disruption into competitive advantage while thriving in a complex environment.
Business agility is vital to companies that are looking to survive long term.
Businesses love nothing more than stability. They enjoy profits, but profits will occur when the market is consistent, where leaders can plan for a future laid out for them. To better understand business agility conduct your business agility assessment using Massivue’s assessment tool, you can access it over here.
Of course, the world isn’t that simple, markets are notoriously volatile, and the businesses that survive and thrive long term have one thing in common: the ability to be nimble. To do so requires business agility. It can be used to adjust changes that occur in the market and the internal changes of a business.
Why is Business Agility Important?
Some say that the only thing constant in life is change. In the business world, this is especially true when you think about how quickly and unpredictable markets, customers, demands, and companies change.
A business that relies on a marketplace to maintain stability must know how to prepare for uncertain conditions when they happen. And they will happen.
Those who adapt will survive and not just survive; they will also thrive. Agility is about keeping up with the change in the market, customers, and the business world itself. A successful business knows when to be flexible as different situations arrive; business agility makes these actions possible.
To better understand business agility conduct your business agility assessment using Massivue’s assessment tool, you can access it over here.
Business Agility Framework
1. Map a vision for your company
Firstly, the framework should function as a guide for how you can begin something new with your business. It helps you navigate market change and adapt your products or services for success.
Start with your vision and the goals you’ve set to drive the response of customers and coworkers. Innovation is the epicenter of organizational agility, and people are the driving forces that solicit change — this is the starting point of your vision.
Businesses must connect with the right people in the right way and at the right time. Once you’ve connected, make them aware of your clear customer-centered goals so they know what to anticipate when working with you. Promote organized communications and collaboration for your team.
2. Achieve Vision with Agility
After you’ve established a vision, determine what your business needs to do, how to do it, and the proper structure to manage the execution of the idea. It means setting up organizational agility and governance that oversees the process and sets it up for success.
3. Working toward the innovation hub
Finally, all your efforts would lead you to an “innovation hub,” which refers to the people who eventually execute the vision. This team should work within an agile framework that’s cooperative, detail-oriented, and iterative.
Agile is the new default way of working, and there is growing recognition of its agile transformation benefits. But moving to an agile operating model is challenging, especially for established companies.
Getting to an agile operating model takes years of committed efforts at all levels of the organization. It’s not a one-off transformation project. It is a continuous endeavor.
At Massivue, our agile enterprise coaches, product coaches, and team coaches make sure your agile journey is on track and accelerate it with their cross-industry expertise.