Although many organisations aim to be hip and modern, their culture is at least 20 years old. Here are highlight four ways businesses can become more agile.

 

It should be no surprise to anyone that over the past several years, the business landscape – regardless of the field or sector – has become more demanding. In the increasingly competitive  private sector, efficiency, effectiveness, innovation and profitability are crucial considerations for most organisations; whilst in the public sector the focus tends to be on concepts such as, efficiency, effectiveness, accountability and transparency. Regardless of the organisation, there has been a growing expectation that they will become even more responsive to their customers and clients, in order to be considered successful in their particular field.

However, although many Caribbean organisations have all of the trappings of operating in the digital age, to a considerable degree, the mindset and corresponding approach has not changed over the past 20-plus years – and is also the case with more recently established businesses. Below, we discuss some changes businesses can make to become more agile, which has become a critical element to be successful in today’s market.

1.  Nurture a mindset that embraces change

Without a doubt, and change is occurring at an increasingly faster rate. This is the case in business, but also in our personal lives. Gone are the days when an organisation could implement a plan of action, and it does not have to be changed or tweaked for several months, or even years. This in no longer the case.

In today’s workplace, an organisation can no longer take years (or even months) to implement a strategy, as the environment itself is continually changing. As a result, the organisation must have culture that understand the current dynamic and encourages responsiveness and agility. Having said this, an organisation does not have to be impulsive, in order to be agile. It is crucial that proposed initiatives still receive sufficient oversight and careful scrutiny to manage risk and ensure that they are consistent with corporate needs and imperatives.

2.  Do not place all the eggs in one basket

In keeping with the previous point, and noting that changing and multi-layered dynamic that tends to exist in business and in the corporate world, organisations may be better maximise their gains if they adopt and implement multiple operating models. Typically, although firms may have a key focus or goal, it is underpinned by several targets and objectives. However, each of those targets and objectives may require its own unique strategy and ecosystem – operating model – for successful realisation. Although the operating models might be connected, they ought to be considered and managed on their own merit, and coordinated as and when needed.

3.  Become more customer-centric

In today’s business landscape, and in the heightened social media space, the customer is king. They can make or break a business. Accordingly, their needs ought to be a top priority. Although this point might be obvious, it is amazing how many organisations are not as customer-centric as they should be. It is still more about management, the Board, or even the shareholders, who, although important considerations, do not wield the power that customers do in realising, and maintaining a successful business. A change in culture, but also in its processes and approach, are crucial in fostering a more customer-centric organisation..

4.  Make IT a product that is managed

All too frequently, we, as individuals, but also organisations, can become too enamoured with technology. We appreciate its efficiency, but also are chuffed by the prestige associated with certain types or brands of devices. Consequently, it is easy to overlook the fact that technology is a tool to help us achieve specific goals.

It therefore means that the IT (Information Technology) an organisation employs must be satisfy its needs. In the past, the organisation would seek to work around whatever IT it had. To a considerable degree, that is no longer necessary, as there are now numerous vendors, multiple solutions, and scope for extensive customisation. IT can now work for the organisation, and can be changed and adjusted as needed.

 

Image credit:  Pexels

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