The world is becoming smaller and more interconnected, intelligent, and technology-driven, bringing challenges and opportunities alive to businesses and those who work in them. Customer demand for personalized services, mobile access, and open and ongoing communication will only grow. The speed with which the pace of business is accelerating requires rapid change and increased agility.
A car with a wobbly tire may be able to move down the road at 20 miles per hour; however, the vehicle can’t function properly with the same wobbly tire at 90. Businesses are also learning that with greater speed comes greater complexity and greater demand for maximum performance. Small business leaders are being forced to ask themselves whether their organizations have the agility to turn these challenges into opportunities.
Technology, Talent, Tenacity
Recognizing and adapting rapidly to market changes is always difficult. At the speed of change in today’s new economy, having the ability to manage change is not optional if the organization is going to succeed and grow. Companies embracing the changes and eager to embrace the new economy are leveraging technology, talent, and tenacity to increase business agility through the new model of business leadership designed for continuously improved processes and systems.
The Agile Business by design is capable of fluid, effective working relationships with employees, customers, and suppliers. It relies upon repeatable, rapid, and reliable systems throughout the organization. Agile Businesses have the versatility to allow employees to make process improvements to respond quickly to change without having to rely on the command-and-control managerial hierarchy approval process that impedes the speed of change.
By being agile enough to manage change, leaders in an Agile Business can capitalize on new opportunities and beat competitors in the tight profit margins of the new economy. By innovating with top talent and ever-improving technologies, with the Agile Advantage, a business can achieve incredible levels of market dominance.
I’m sure it’s no surprise to you that customers are disappointed with limited options. Technology is already changing customer control of options, much to the consternation of those typically in command and control. For example, television programming is still decided by the networks. They make the choice what shows get on, when they will run, and who gets to see those shows. With Digital Video Recording devices and websites such as Hulu.com, customers are taking away some of that control as they record and watch shows when they want to with the added ability to fast forward through unwanted ads. This is changing how advertising functions, how networks charge for ad space, and how marketing philosophy is shifting from interruption marketing to permission marketing.
Your Agile Advantage
To create your agile advantage for your organization, develop the following characteristics for your organization:
- Create a culture that allows for agility to stay in front of customer demands
- Maximize the potential of your top talent by letting them make decisions
- Conduct on-going training to develop better decision making as close to the customer as possible.
Think of the changes you are seeing in your customers. How are they locating you? What do they know about your competition? How are you reaching them with your marketing strategies? All of this is changing in the new economy. Agile businesses know how to stay in front of these changes. Ole school businesses always feel as if they are catching up. Which best describes your business?