Table of contents:-
- What is Business Agility?
- What are the benefits of Business Agility?
- How to make our business agile?
- What are the challenges in business agility?
What is Business Agility?
Business agility is derived from the agile framework, which can be applied to all aspects of a business, company, or organization.
Agility benefits the business in many ways such as commercial advantages, faster in the market, and higher adaptability to change.
Business agility is useful for the smooth running of any organization because it helps to keep the expenses lower whilst keeping the quality high.
This is done by making sure that the development processes are small and cost-friendly. This allows flexibility concerning constant improvements and updates for the new products.
Business agility principles are not limited to short-term projects like the agile framework. Their framework can be applied to the whole organization making sure every team and every section of the organization benefits from the framework.
Commitment and dedication from the team members and (when necessary) reinforcement as well as buy-ins from the leaders are required when applying business agility.
What are the benefits of Business Agility?
An efficiently applied business agility model makes the company or organization more agile and flexible.
This means the company is ready to adapt to internal and external changes, tackle efficiently with the customer’s needs and expectations, and be innovative and adaptable whilst being cost-effective and providing quality.
A constant advantage of any agile business is that it responds much faster as compared to its competitors. Moreover, it is not only about its quicker responsiveness, but also about innovative strategies, informed decisions, and tuning the decisions in alignment with what the customers want.
How to make our business agile?
A common misconception amongst teams is that they think that their business is agile because their product development team is using agile principles. That’s false. There is a vast difference between being an agile business and using agile frameworks.
Business agility is not merely a holistic approach. It is about being agile across the business, which is a strategic process and there are fundamental changes in the company.
The agility is not limited to development teams but extends to all the staff members so that they are able to transition between different roles. Furthermore, the required resources are provided wherever necessary.
As a result, self-organizing teams emerge as one of the key aspects for successful agility.
Agile businesses take advantage of the circumstance, bring the people who are the most suitable for the task, and respond quickly to the problem.
Empowerment and faith in one’s colleagues are vital to allow them to go by their gut, be spontaneous, and be creative with the solution they come up with. Thus, for business agility to be successful, the presence of the trio – process, governance, and infrastructure – is essential.
What are the challenges in business agility?
A common thing that companies love is stability and certainty. However, business agility is the exact opposite. It is like deliberately shifting the fundamentals of your organization into a more uncertain and flexible terrain for a fast-paced work environment.
This may seem a tricky model to many because it is the opposite of the traditional. Thus, it is likely to be judged as unsettling and unwise.
Business agility is specifically difficult for senior management staff because the decision-making power goes away from the C-suite which can be difficult to adjust. Moreover, it empowers the less experienced staff to strike the balance between independence and mistakes.
Another challenge with business agility is that it encourages short-term tenure over long-term tenure by prioritizing quick actions and rapid solutions.
It puts the organization in a permanent reactive frame of mind which is why issues are dealt with as and when they come up. Thus, this aspect needs to be well-managed.
Fear, overconfidence, and ego are the three factors that can lead to the downfall of an agile business. The fundamental changes that are undertaken in a company can be quite scary especially because giving up control can be difficult for leaders and lack of consistent planning can lead to detrimental effects in the long term.
Having said that, being a rigid and inflexible organization hardly guarantees success. A properly executed agile business has a lot of advantages and opportunities available too.
Q: What is Business agility?
A: Business agility is derived from the agile framework and it benefits the business in many ways such as commercial advantages, faster in the market, and higher adaptability to change. An efficiently applied business agility model makes the company or organization flexible. A constant advantage of any agile business is that it responds much faster as compared to its competitors.
Q: What are the 3 advantages of business agility?
A: The 3 advantages of business agility are – the company is ready to adapt to internal and external changes. It tackles the customer’s problems and expectations efficiently, and it is innovative and adaptable, while being cost-effective and without compromising quality.