Business Agility - A Growth Strategy For Companies
- Posted by: GroVine
- Category: Business, Business Growth Strategy, Marketing
Business organizations started with business agility approach to meet the requirements of the modern business, to operate in profitable and predictable ways even in situations of extreme complexity. Business following agile approach is said to be best positioned to take advantage of the competitive environment.
Organizations have defined agile methodologies to address the issues faced due to changing requirements, technological complexities, uncertainty due to system complexities and many more.
Organizations that follow agile have changed, as the routine part of the organizational life. This helps to reduce or eliminate the organizational trauma arising when you adapt to the new requirements in the market.
Agile methods integrate planning with execution allowing an organization to follow an optimal ordering of work tasks approach and adjust to changing requirements. Practical methods for achieving organizational agility starts from organization’s competitive bases.
The major causes of chaos on a project generally include incomplete understanding of project components, incomplete understanding of component interactions and changing requirements. Requirements change as the understanding of the project unfolds over time. Requirements also change due to changing needs and wants of the stakeholders.
The agile approach allows a team or organization of collective trust, competence and motivation to implement successful projects quickly by only focusing on a small set of details in any change iteration. This contrasts with non-agile in which all the details necessary for completion are generally taken to be foreseeable and have equal priority inside of one large iteration.
Key factors that drive the business to be responsive to the changes in the market are
- Watch the trends to adapt to the changes in the market and keep pace with it.
- Design, architect and deliver products to suit the market changes.
- Offer customer relationship management and customer services to understand the customer behavioral changes.
- Understand the customers’ needs for tomorrow today itself.
Business Agility Concepts
Agile enterprises focus on interactions, collaboration and outcome and constant learning of the organization and the individuals involved. It is based on the principle to learn constantly, act on feedback and apply both to the product and the process.
Interactions with individuals and groups sharing the same set of knowledge and thoughts are essential. Interacting in forms of meetings discussions, brainstorming sessions, talk over coffees, and similar is important to innovate and drive adaptability.
An organization should evolve in all the phases hand-in-hand. Evolving or adapting changes should be for the product, service and the process followed. Company and the people should consistently learn and evolve to meet the requirements of the changing environment.
Agility does not believe in best practices. It focuses on adapting and following the practices that suit the organizational context and helps embrace change to offer value to the customers.
There are no specific roles best suited for the situation. Any role that fits best to the organization situation and can generate profits is appropriate.
There is no prescribed life cycle to be followed in the agile environment. Any process or lifecycle that is iterative and incrementally delivers value to the customer, senses the customer value and responds appropriately, is recommended.
Business agility is just not a specific methodology or a general framework. It describes how an organization operates through symbolizing a specific type of growth mindset. This mindset is very similar to the agile methods described by members of the agile community. This approach is largely followed in the software development organizations.
Agile organizations differ from traditional bureaucratic organizations. The fluidity of role definitions and knack for long-term competitive advantage are different in traditional and agile environments. Agile organizations follow a program of short-term competitive advantages, which are then neutralised, before moving onto the next.