In a disruptive and rapidly changing world, never before has organisational agility been so important.
This is not a new phenomenon, however thanks to Covid, Brexit and other economic obstacles, it has been pushed high up in the strategic agendas of companies large and small, and through the lenses of investors and shareholders.
Agility in its general sense means to move and to change position quickly and effectively whilst under control. This can be explained using a much-used buzzword of the Covid pandemic, to “pivot”.
Pivoting is changing direction in order to cater to new market opportunities or to survive reduced market demands. Successful pivoting requires excellent organisational agility.
What does it mean to be agile?
Any business entering and thriving in investment portfolios need to continuously look ahead to its next stage of growth. They need to understand disruptions and opportunities and be prepared to rapidly change how they operate at every stage of their evolution.
Growing businesses need to regularly evolve beyond constraints which bind them to their origins or current operational size and form to achieve growth potential. This often means evolving operations, systems and people. And they will need to do this continuously as they continue to grow.
Our experience tells us there are five core elements of organisational agility that should be continuously tested for their proactive direction in growing businesses. These elements need to work in unison, so no one is more important than the other.
At AAB LLP and AAB Consulting, we have brought together our diverse and broad skills in business advisory and consulting to detail these five elements in our latest blog series.
Read each blog:
We have looked at why they are each important, and what they tell us about businesses. We explored why the ability for organisational agility is crucial for the operational health of a company and financial health of investment portfolios.
Why should organisations be agile?
It’s easy to say that this is all very well and makes perfect sense, but what should organisations do with this? How can they apply this, how will it help them and where do they start?
It is important to approach organisational agility with an open yet realistic mindset. Does a leadership team have the time and energy to devote to addressing all five elements, or should they be taken in turn, starting with the priority area for any given company or situation? Perhaps only one area requires attention now – or maybe any combination of up to five elements.
All of this depends on where an organisation is on its journey or roadmap. It depends on the sectors and markets they operate in, what they do and how they do it.
In order to get the most out of organisational agility, however, what is definitely required is a very open mindset and willingness to change. This will need to be led from the very top, transcending across the whole business. Getting this right transforms businesses and helps them to grow and thrive.
Across our teams at AAB Consulting and AAB, we have the skills to help you implement organisational agility. Through getting to know you, your business and your people, we’ll work together to implement agility across the most vital areas of your business.