Agility in Business

In the 'theme reveal' post for the Blogchatter A2Z Challenge April 2023, I had indicated that I would be writing about Key business concepts in general of which the focus would be particularly on HR (Human resources) matters . As the challenge kicks off today I start" with the topic "Agility in Business"  for alphabet 'A.

 Businesses have for some time now, recognized the importance of being 'Agile' in a a world that has become volatile and uncertain. The customers of today have a lot more options to choose from. Therefore, the need to run faster and smarter to atleast remain in the same place!  Organizations cannot afford to be complacent and rest on past laurels. There is a  need is to be continously innovative in order to meet the new and increasing expectations of the customer, before the competition does. 

It is not sufficient to be the 'first kid on the block' . It is necessary to be vigilant and active for sustaining one's postion. Failure to do so, may result in the competion leaving you far behind. This had happened in the case of AT&T the American telecommunication multinational which was one of the first to acquire knowledge of mobile technology but gave way to other more enterprising competitors. Technologies can change overnight and even make the the old one redundant. As for example movies turned digital and are no longer made on films. There is no fear or the need to be careful to ensure precious film is not wasted for retakes.  What it meant was that a coveted business of manufacturing film roll became irrelevant.

The abrupt changes in the business scenario requires not only adaptability but also speed in the response. Stamina, speed and flexibilty have all become necessary. Even as you run the core business effectively, there is a need to keep your eyes and ears open and be prepared to shift to multiple businesses if need be, quickly  adopt and execute effectively. We have many instances when even older companies such as Shell, which started out as a sea shell company demonstrated flexility & agility to move into other diverse areas like petroleum. In India, Reliance Industries started as a small textile manufacturing unit in Mumbai and has gone on to become one of the largest companies operating in diverse business areas.

 The rapid rise of technology has added to the pressure on businesses to meet expectations. The customers are able to easily compare features offered by competitors and there are higher customer expectations in terms of look, feel and usabilty of products. Here, it is important to tune the culture of the organization to be 'agile' so that the employees are able and willing to meet the new challenges. HR has a big role to play in this regard. Technology is bound to have a bigger say in the way business is conducted in the days to come. The unexpected arrival of the pandemic Covid 19 has ensured that more and more of the 'common man' have been compelled to use it. We have been using Zoom for meetings and communication as never before; even small vendors, used to cash transactions, have embraced Pay TM and other digital modes for payment. 

It cannot be disputed that the VUCA(Volatile, uncertain, complex & ambiguous) world is here to stay and one will have to meet it by being agile and flexible. Yet, it is important to also keep in mind that the uncertainities cannot be be dealt with by pressing the panic button. When our mind is in a whirl, overwhelmed by a large number of debilitating thoughts, we cannot give an appropriate response. Panic will either result in freezing inaction or a desperate over reaction. Appropriate response would automatically come if you have 'agility'  as a part of the organization culture driven by a genuine desire to improve the lot of the customer. Innovation and new ways of thinking then, becomes  a way of life; not a strategy for a battle.  From this place of relaxed confidence, the organization would be able to handle any challenge! 

This post is a part of #BlogchatterA2Z 2023