An organization is a place where a group of people of different hierarchies will work together to produce various goods and services. Every employee of the organization, every organization also works to earn some profit. But it is not easy to get a profit and to survive in the market. Because of several competitors, environmental changes, changes in habits, lifestyle, natural calamities, proper demand and supply, etc several influencing factors are there for the organization. So it is a really good thing to survive and acquire market share. Let us understand more about this topic with business terminology, which is called Business Agility. I know what is this business agility? Why it is so? Let’s have a trial to get an idea about this.
The term business agility refers to the capability of an organization to sustain itself in the market and gain profits, tolerating the change of market and environmental effects smartly, and tries to makeover itself according to the modern changes. If any of the organizations can perform like this and stood up strong by fighting all the influencing factors, then that organization is said to be organizational agility.
Business Agility can be defined as the ability to sustain and exhibit its potential in both internal and external organizations, maintaining a healthy environment even though the outside factors are unhealthy. Simply we can say that every organization should maintain stable growth under all circumstances only with the help of Business Agility.
Features of Business Agility that help to show a growth curve for the organization continuously are,
The framework of Business Agility is a proforma or a structure that gives a clear idea about the concept. As it is shown in the figure, all the departments and activities are running in parallel. The framework is to explain the elements and their positions to be adopted by the organization.
The business Agility framework is a customer-centric operating framework. It means it gives high priority to the customers’ requirements and expectations. So the business activity can easily adapt according to the customer’s mindset. It has seven principles and three enablers with a single shared goal.
Business Agility = Customer Agility Team Agility Leadership Agility.
Customer Agility:- A customer can think, react, require according to the time, cost, needy, etc. So the organization should allow the customers to express their constraints and criteria, then it needs to meet them quickly.
Team Agility:- Both internal and external teams should have the ability to think and act smartly and spontaneously. They should try to introduce an innovative product which gives more satisfaction to the customer.
Leadership Agility:- The capability of leaders should be helpful to understand customer’s views and provide a relaxed atmosphere for the employees to work. They should delegate work and the authority should be decentralized.
Here we need to speak about four important methods or strategies or ways to build business agility in our organization. These methods will help the company to adapt to business ability easily and quickly. They are,
Why all the Organizations should be Agile?
What is its importance?
Of course, Business Agility is very important because we know that the future is uncertain and the market is unpredictable. We don’t know whatever happens in the next minute. The same logic applies to our business also. Even though if our organization is in the top position at present, we cannot give insurance that the position will continue for a few more years or a few more days.
Anything may happen. Whether a new company launches a better product than us or the attitudes and tastes of the public may change, any natural calamity like covid-19 occurs, etc. That’s the reason we always make sure that the organization should be Business Agility. Because Business Agility is like a resistance power to the organization. It May fight with the outside negative energy like environmental changes, Market changes, New technologies, modern amendments, etc anything.
So Business Agility helps to adopt new technologies and new changes immediately. It provides an uncompromisable quality to products with effective cost-cutting methods. All the employees also coordinate with each other and act smartly and spontaneously according to the situation. It also helps to transform the organization digitally and can navigate quickly. We can say that business Agility is important without any hesitation.
We have several real industry examples that adapt Business Agility and performing well around the clock. So let us see some of the examples.
KPMG International limited is a consulting firm which adapts the business agility framework. It helps the organization to modify itself into the digital world rapidly. It is enjoying several benefits. The four major services provided by the KPMG International limited using this business agility are,
McKinsey & Company also an example of Business Agility. They too adopted the framework of Business Agility and became enterprise agility. It also benefited in multiple ways.
Hence, it is clear that business Agility refers to the ability of an organization to sustain itself in an unpredictable market. It has several principles and strategies in its framework to modify and restructure the organization efficiently and digitally too. So all the organizations are advised to get it into practice for stable growth.
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