Business Agility and the Reasons for Its Adoption
The Impact of Business Agility on Leadership, Operations, and Growth
Business Agility is the ability to compete and thrive in a constantly changing business environment by responding quickly to market changes and seizing opportunities as they arise. Business agility impacts different aspects of an organization, such as leadership, operations, and human assets, which are all essential for long-term success. From becoming strategically agile to developing growth mindsets to designing flexible value-adding workstreams, business agility shapes how the organizational system works, as a whole, to create value for stakeholders and ensure growth and sustainability.
A recent Deloitte Business Agility Survey revealed some interesting statistics about business agility: 67% of the respondents agreed that business agility is highly prioritized across their organization. However, 47% of the organizations surveyed reported the absence of an articulated reason for them to change to agile ways of working.
Various surveys and studies support business agility as they experienced improved collaboration, communication, and better ways of working; while others enjoyed speedier time-to-market resulting in commercial benefits; and greater employee motivation with an overall increase in employee satisfaction. However, more emphasis should be given to identifying and communicating the reasons behind the transformation.
This transparency, which is key to agility, helps organizations gain the support of teams and leadership and reduces some of the challenges that an organization may face when transforming to business agility, such as
Change Management
A key challenge faced by companies transitioning to agile is managing organizational change. Many people may be concerned about what lies ahead and how this change is likely to transform their roles and responsibilities. They may not be accustomed to working with new practices or may not have the new skills or competencies required. Therefore, effective change management will be essential for organizations to transition smoothly into the new agile model.
Communication Breakdowns
With multiple stakeholders involved in business agility transformations, communication channels can often suffer between and across team members and leadership. For example, some stakeholders prefer face-to-face meetings, while others may feel more comfortable using technology such as instant messaging or emails for discussions, which could lead to message being misinterpreted. If these types of breakdowns occur, teams might struggle while attempting to understand the value behind the transformation.
Unclear Objectives
Agility is constructed on the cultural awareness of the principles, the adoption of agile values, and the consistent application of practices. Agility needs to be embraced by changing the mindsets of the teams involved into growth mindsets and by focusing on adding value. This concept should be applied to the transformation journey as well. Teams need clearly defined goals and objectives for the transformation so they achieve them in increments and monitor the outcomes to adjust and adapt accordingly. If there is confusion surrounding what should be achieved through this transformation and why, then it could slow down progress significantly, resulting in delays, friction, and resistance that would be costly for organizations attempting the transition to agility. Business Agility Operating Regions 24% Worldwide 19% NORTH AMERICA 8% SOUTH AMERICA 7% MEA 7% EUROPE 15% ASIA 7% OCEANIA Despite the confusion about reasons to adopt business agility, there has been a worldwide, uptake in organizations seeking to increase agility due to the need to be responsive to customer needs in a rapidly changing world. Business agility helps organizations to remain competitive by innovating new solutions, modernizing offerings, expanding product lines, and creating value for their customers. Being able to make quick decisions helps an organization move ahead faster than its competitors while providing exceptional service that keeps customers satisfied. Below is a snapshot of the regions adopting business agility:
From another perspective, organizations must invest both, time and resources into the transformation journey, as it can be difficult for them to transition successfully.
Implementing business agility is a worthwhile investment that yields both organizational and workforce-related benefits in the long term. Ultimately, business agility will help your organization gain a competitive advantage in today’s ever-changing market and keep up with customer demands more effectively. Therefore, it is imperative that organizations continuously look for opportunities to leverage business agility initiatives while clearly explaining the why behind this transformation – this way teams won’t counteract with resistance but instead embrace this exciting transformation journey!
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