Incumbent businesses around the world face unprecedented disruption.
For the first time, business leaders are more worried about digital natives than traditional competitors. They recognise they must transform, and fast. Yet in too many instances, organisational agility is lacking. They just aren’t set up to respond to rapid change.
And as the pace of change accelerates, the risks of inertia are significant.
of companies will fail in the next five years as a result of not adapting to rapid and radical change.
say their business model needs a fundamental rethink – a new business design for agility.
The top 10% of businesses by financial performance are 30% more likely to display agile characteristics.
Our vision is of an agile organisation. Where humans work in aware, alert, inclusive and responsive teams. Where we tune into and bounce off each other, attentively and rapidly responding to our customers and competition. Always one step ahead.
We have proven, through research that included interviews with more than 500 global business leaders, that it is possible, indeed essential, to build this sustainable agility.
Now we’ve codified our findings in a new report. Crucially, our research clearly shows the link between five dimensions of agility and top tier financial performance.
Through our research, we found five dimensions of organisational agility that will enable you to keep pace with rapid change and stay ahead of the pack:
Centring on customers is a key aspect of organisational agility and the businesses with the best financial performance are much more likely to do so. They listen to feedback, bring customers into the innovation process and use data to prioritise according to customer needs.
The businesses with the best financial performance are also much more likely to use agile throughout the organisation to speed up time to value. They mobilise quickly in response to competition, outpace competitors when it comes to rolling out improvements and invest in moving from idea to launch at pace.
Simplicity is necessary for agility, something the businesses with the best financial performance understand. They’re more likely to build teams around products and services rather than skills, empower their people to make decisions, and create a flat organisational structure.
In an agile organisation, the ability to evolve continuously is in-built. And that’s the case for the businesses with the best financial performance. They’re more likely to accept changes at any point in the development cycle, flex easily to respond to changing requirements and have teams that respond well to change.
No organisation can be agile without giving its people the power to be agile. And the businesses with the best financial performance are more likely to have a dynamic company culture, empower all people to contribute ideas and set up technology, infrastructure and workspaces for collaboration.