Strategic agility is a critical factor for companies to thrive in today’s fast-paced business environment. It comprises four key elements: a strategic vision, a customer-centric focus, a fluid organisational structure, and leadership that embraces change.
A strategic vision enables companies to anticipate and respond to market shifts. It is not about predicting the future, but about creating a shared understanding of the company’s direction and purpose.
Customer-centricity is about understanding and addressing customer needs. Companies should strive to create value for customers, as this will drive their success.
A fluid organisational structure allows for rapid decision-making and execution. Traditional hierarchical structures can hinder agility, while a network-like structure enables faster response times.
Leadership that embraces change is vital. Leaders need to be open to new ideas and willing to take risks. They should foster a culture of learning and innovation, encouraging employees to experiment and learn from failure.
In sum, strategic agility is not a one-size-fits-all approach, but a mindset that needs to be cultivated. It requires a balance of vision, customer focus, organisational fluidity, and leadership that is open to change.
Go to source article: https://www.forbes.com/sites/stevedenning/2017/05/22/the-four-keys-you-need-to-achieve-strategic-agility/#6deb33217da8