Management Fix
By definition, Business agility is the ability of a business to realize and sustain its full potential both in terms of its profits and its people. (1)
It is the ability of an organization to rapidly adapt to market and environmental changes in productive and cost-effective ways. An extension of this concept is the agile enterprise, which uses key principles of complex adaptive systems and complexity science to achieve success. Business agility is the outcome of organizational intelligence. (2)
The way a business operates and grows will be determined by its ability to respond to change and the way it adapts to these changes. (3)
Taking the agile framework and applying it to business agility creates a tool that can serve businesses of all sizes and types. Be they for-profit, nonprofit, governmental, or whatever — they can benefit. It will make businesses more responsive to customer and market needs. It is just what businesses need in the ever-increasingly dynamic, demanding, and resource-scarce world. (6)
Here are some benefits of business agility:
- Productivity — Once your business adopts an agile framework, productivity will improve, turnaround time will reduce, and you will be able to respond rapidly to new opportunities.
- Value-add — Increased productivity, improved service, and rapid market response need result in added value, reduced…
