New technology innovations have empowered start-ups, and changed customers’ behaviors and expectation. These developments have changed the market dynamics in a big way. As a result, traditional ways of competitive advantages are waning at much quicker pace than ever before.
Since majority of the recent market shifts are induced by new technologies, and technology is associated with speed – one of the prerequisite to sustain growth in this digital era is to make organization agile. Agile organization could adapt to changing market condition rapidly and respond to customer demands timely.
Established companies can take advantage of their IT function’s agile model to scale it. However, there is more to it when it comes to agility across the organization. Based on my experience, a company should address three crucial elements to bring about agility and flexibility:
- Organization design
- Culture
- Processes
First two elements have to do with how people in a company interact with each other and make decisions, and the last one deals with series of actions to accomplish an outcome. The best levers to begin the agility is streamlining seams across functions or business-units where information is shared. Furthermore, if governance and competencies are properly leveraged that could bring changes in behaviors which eventually produce lasting improvements.
Have your say: ashok.bhatt@freshwaters.co
From the desk of Ashok Bhatt 