Being agile: How can companies manage to thrive during uncertainties with agility?
Most companies typically followed legacy systems to run their businesses in the pre-pandemic era. And things went quite well until the recent pandemic, which made it imperative for leaders to quickly reorient their traditional work practices and become agile to economic uncertainties. This article talks about how an organization can drive agility by taking small steps and thus becoming resilient to the ever-evolving business landscape.
Tech upgrade
While the entire world is going online and becoming more connected, organizations must upgrade their legacy tools and software products to make their business capable of understanding and accordingly meeting the changing needs and expectations of customers. Honestly, a company can’t even function properly in today’s scenario if they follow traditional working patterns and formats.
New-age customers seek personalized products and experiences, and to ensure this, leaders must be equipped with the right tools and technologies to study consumer behavior by leveraging data points the right way and thus devise solutions to meet their demands in the exact way they expect. Therefore, businesses must continue to upgrade their systems in accordance with market developments to become agile in their operations and thrive in any situation.
Restructuring Strategies
As a leader, you must keep experimenting with new business models to determine what works and what doesn’t. You must also analyse how that change might impact all the facets of the business and whether the consequences will be negative or positive.
Doing so will give you a clear picture of where you stand or if your business can manage the upcoming changes. A business model that perfectly syncs with your organizational goals and vision today may become obsolete tomorrow. Hence, leaders must continue to follow the same model if that’s working fine, and at the same time, know when to pivot to stay afloat, especially during turbulent times like these.
Mindset switch
Before implementing any changes at the organizational level, leaders must practice changing their existing thought processes and be open to new ideas. Setting on a specific path might hinder business growth. Likewise, acting mindfully while making important decisions, as a single wrong decision can cause immense internal damage.
Most importantly, focus on adding value rather than being solely centered on profits and losses. After all, customers always look for value, and if you can provide that, nobody can stop you from succeeding in your endeavor.
Conclusion
Developing an agile mindset is paramount for your business to tackle uncertainties and move forward in any situation. In fact, it is a great way to drive innovation and resilience within the business and thus set to catapult to new heights. If you are agile, you will be more adaptive and responsive to changes, which will eventually make you stronger in the long run. Your end goal should be helping potential customers improve their lives and experience through your products or solutions; agility is the key to achieving this.
(This article is written by Mr. Sujit Patel, Founder and CEO, SCS Tech, and the views expressed in this article are his own)
