For a business to acquire the tag of agility is its capacity to improve its reaction time to the evolving requirements of its clientele. This leads to enormous growth of your business entity. Agility is becoming an indispensable asset for a business in the face of fierce competition and changing trading landscape. Agile businesses are more capable in implementing risk management programs.
It is important to know the core competencies of your business for the purpose of enhancing your business agility. Knowing these competencies aids you in directing your resources and time to particular areas where your strength lies. You should not view core competencies as only comprising products since they extend to include technical knowledge and skillsets. Having in place a solid team of staff and excellent relationships with clients and suppliers can also fall under this.
It is essential to know the markets for your products and goods that stem from your business core competencies. By exploiting on the distinctiveness, you can create more channels for earning additional money. Carrying out of market research is essential at this point with a view to attaining the desired results. It is advisable to hire an external consultant to offer guidance in the systematic assessment of the opportunities that are available in the near and adjacent markets.
You need to determine the strategies that you are going to adopt to satisfactorily serve the markets that you have established for your products and services. In the event that the capability of your business to generate value is dependent on equipment you need to improve the capacity in that area so that you get returns on your investment. Conversely if expertise and knowhow is what drives values in your business, you will be better placed to be versatile in the market opportunities.
Consider having lean operations in your company as a strategy to improving your business agility. Why this is crucial is that it assists you to bring down waste through eliminating activities that play no role in value addition for your business. As well you will be better placed to offer your services and products in an effectively without increasing the cost or sacrificing the quality.
An important component of a companys agility is how each individual behaves. There is need to foster cultural agility as it impacts on an individuals attitude towards cooperation, sharing, collaboration and participation. These behaviors are offered support by agile values such as respect, focus, openness, honesty, commitment and courage. It is through proper grasping of the purpose of these values that you find results-driven management, customer delighting, iterative incremental and employee pleasing.