Nothing is more crucial to a business than stability. Yes, profit matters, but companies can achieve consistent profits easily when markets are stable.
The world, of course, doesn’t always work this way. Markets are highly unpredictable and things change in the blink of an eye. If your business's viability is dependent on the marketplace, which is almost always the case, you must be prepared to face the challenges of trying to maintain a smooth path through a changing landscape.
Businesses that survive and thrive under any circumstances share one trait: they are agile. When faced with a challenge, an agile business, like a skilled soccer player, knows when to decelerate, accelerate and turn. Agility can help organizations adapt to changes in the market and changes within the company.
People
Beyond systems, stable and flexible personality types must be
prioritized in your hiring practices. This means hiring those who
are comfortable with change and can leverage change to better
themselves and eventually the company. People are just as critical
as processes in your organization's ability to be agile.
For instance, dividing positions by novelty versus repetition is a good idea (i.e., tasks with little to no context and which require a lot of research vs. well-documented duties with a playbook).
Companies that use both work styles and appropriately cross-train their employees to take on both are usually better equipped to deal with changing market situations.
Processes
It's a good idea to plan ahead, but it's also advisable to leave
room for unexpected changes. Find the right combination for you. A
process can be 70% planned and 30% improvised but knowing your
typical mix ahead of time makes it easier to react quickly when the
situation demands it.
To take your processes through the path of agility, answer the following questions:
Technology
When handled properly, technology can substantially support your
people and processes. However, you must make sure that the
technology you use helps your business adapt to changes quickly.
Otherwise, it could be the biggest hindrance in your journey
towards agility.
Implementing all of the above could be overwhelming since you probably already have your hands full running your business. However, collaborating with a specialist managed service provider (MSP) like us can take the burden off your shoulders and give you the peace of mind you deserve. Feel free to reach out to us for a no-obligation consultation.
To learn how to be more agile, click here to download our checklist titled "3 Ways to Make Your Organization More Agile."
*Organizational Agility – IESE Business School
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