Business agility. Buzzword or vital corporate attribute?

Business agility. Buzzword or vital corporate attribute?

Business agility. Buzzword or vital corporate attribute? 

04 Mar 2021

Business agility. Buzzword or vital corporate attribute?  teaser If business agility is here to stay, how do we limber up? AR Advisors Director Mark Giglia has 5 top tips to help you stay light on your feet.

Of all the new and upcycled words and phrases brought to us by COVID-19, business agility is our favourite.

Not just a buzzword, it’s the ability of a business to adapt and change to market conditions.

Why do we like it?

Just like its close cousins pivot and business disruptor, business agility is an invitation to do things differently. It’s a powerful addition to any business toolbox.

The past 12 months have delivered countless examples of businesses doing things differently to meet market demand.

Flexible payment terms to ease customers’ cash-flow woes. Menu changes and delivery partners to serve hungry diners confined to barracks. Online consultations, teleconferences and virtual tours when meeting up in person isn’t an option.

But reacting to a crisis isn’t the only reason we should pause and ask ourselves, “Is our strategy still working?”
Why not embrace business agility as a natural part of the business planning process?

If business agility is here to stay, then embrace it!

It’s never too late to start thinking like a business that’s light on its feet. Has the market changed? Is our thinking still innovative? Is it still pushing us forward in the right direction? Asking the right questions can prompt changes in strategic thinking that might not otherwise have been possible.

How do we limber up?

Agility is possible in all businesses, but it requires a shift away from traditional thinking.

Here are 5 quick tips to ease the way:
  1. A great way to start is to embed business agility into your annual and quarterly strategic planning sessions. You’ll find you’re more open to opportunities to think differently when it’s an agenda item.
  2. Lead from the front.
  3. Enlist the help of your business advisor to review your current strategy. They’ll bring fresh insights to the table.
  4. Challenge your own thinking. Look at it as an exciting opportunity.
  5. Encourage your employees to be creative; to look for innovative solutions and new ideas.

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