A business establishment is considered to have attained agility if it is able to respond in a timely fashion to the needs of its customers. As a result, the growth that your business achieves is significant. 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.
One of the ways that you can greatly improve your business agility is by figuring out the core competencies of your company. This understanding is crucial as it helps you to focus your resources and time to the relevant areas. Core competencies go beyond the issue of products and involves expertise and technical knowhow. Other competencies can be having a dependable team of personnel and ability to develop excellent business relationships with clients and suppliers alike.
For the purpose of enhancing agility for your business it is important to determine the specific markets that will be served satisfactorily by your core competencies. Then you go ahead and see how you can make money from this distinctiveness. In this regard it is essential to undertake market research. It is recommended to contract an external service provider to guide you in the systematic evaluation of the markets that you can access.
Upon determining the market that will be effectively served by your products and services, you need to evaluate how best you can satisfactorily service it. If your business relies primarily on equipment to generate value you will need to increase the capacity in this area so that your investment is profitable. Conversely if expertise and knowhow is what drives values in your business, you will be better placed to be versatile in the market opportunities.
If you are looking to effectively enhance your business agility it is advisable to resort to lean operations. The importance of this is that you are able to minimize waste by getting rid of operations that are not beneficial to your business. In addition, you will have the capacity and capability to provide products and services without increasing the cost or sacrificing the quality.
The behaviors of each individual in your company is crucial as it determines the level of your business agility. The agile mindset needs to be encouraged as it affects individuals participation, collaboration, cooperation and sharing. 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.