The C-suite has the potential to restructure workforces, influence purchase behavior, and increase the bottom line. But when it comes to boosting agility, many people choose to step out of the way. If businesses are to respond more quickly to shifting market conditions, adapt to changing consumer tastes, and drive profitability, the C-Suite can reorient a transformation. Agility is not new to a modern-day organization. An organization that lacks agility is likely to fall behind and eventually lose market share and potential customers as well. The recent pandemic compelled businesses to speed up their activities. Consequently, organizational agility suddenly came to the forefront and became imperative. Without agility, an organization is prone to lack behind and eventually lose market shares and potential clients as well.
CEOs need to realize the impact agility can have on businesses and drive changes in their organizations to make it possible to overtake born-agile organizations. They must acknowledge that fostering agility is the roadmap to outshine their competitors. If we look at the performance of firms with the C-suite complying with agile principles for a good period, the picture is quite clear. We can see the enormous growth of business giants like Amazon and Microsoft, where the C-suite has embraced agility without any reluctance.
A perfect example of this is how the king of eCommerce, Jeff Bezos, dreamed of founding his own business in the vast, at the time largely unexplored wilds of the World Wide Web, spurred on by a secret passion for the nascent industry of electronic shopping. Although it was a gamble, it quickly paid off. With sales of more than $610 million and more than 13 million consumers worldwide, Amazon.com became the model for how e-Commerce enterprises should be conducted just four years after Bezos founded it — all this would not have been possible without a Bezos-style agile leader. Till date, Amazon uses agile team structures and adaptive practices to stay ahead of its competitors.
Agility from the C-Suite Perspective
How can C-level executives encourage the adoption of agility throughout their organization by updating their thinking and working with business line leaders? Organizational agility is not just limited to having agile teams. The top management should exemplify agility to inculcate the same throughout the organization.
Being passionate is one of the critical factors of agility. Passion enables the C-suite to practice agility thoroughly, which will help them provide more value to their customers. Customer commitment should not be merely in black and white. The aim should be to provide a clear vision to the customers. Needless to say, customer focus is not a one-time initiative; it is a lifelong process.
The C-suite professionals have a significant role in maintaining an atmosphere of competence in their respective organizations. They should come out of the comfort zone of their hierarchy of authority. They should keep a tab to ensure that information is gathered and disseminated to the correct source. Furthermore, they should always ensure an atmosphere of transparency where issues are straightly put forward and addressed openly.
Agility has two intrinsic elements viz; operational agility and strategic agility. Operational agility focuses on enhancing the current business, while strategic agility aims at generating new products and services, thereby introducing new customers to the organization. CEOs should be fluent in both these elements.
Agility is not a Novel Concept
In earlier times, the concept of agility was mainly confined to managing teams and participating in decision-making. It was more on a peripheral level then. But this didn’t seem to suffice in the modern competitive world, which calls for a dynamic approach.
The newness in terms of agility is that now CEOs are embracing it wholeheartedly to make their organizations competent. It has resulted in organizations getting reinvented and reorganized. In a broader sense, the entire process of strategy, strategy, planning and budgeting, auditing, and human resources has been redefined. Similarly, a drastic change occurred regarding the formulation of metrics for highlighting an organization’s mission and performance.
How Agility Can Make the C-Suite More Adept
Initially, the C-suite fraternity found it challenging to accept agility as it is all about thinking and doing differently. The agile mindset resembles the mindset of a hardcore professional like a lawyer, doctor, or engineer. Agility involves observing and analyzing in a specialized way abhorring the layman’s lens. It focuses on analyzing issues with a certain amount of tactical acumen and coming up with the best possible solutions. This mindset develops over time and cannot be acquired overnight or in a short-term crash course.
Agility requires humility, which eliminates the barrier to learning from anyone, regardless of age or experience. The C-suite must be comfortable with agile principles and practices. Once acclimatized to agility, problem-oriented work sessions will automatically replace the archaic-style management meetings. Agility should be viewed as a transition, a continuous improvement program, and not as a project with a stipulated deadline.
Agility makes the C-suite capable of responding proactively to a situation without the burden of hierarchy. It makes the C-Suite professionals more resilient and skillful. CEOs need to take significant steps to become agile. First and foremost, they must change their work culture. They must ensure that business strategies are clear and aligned across the organization. Communication should be as transparent as possible so that the employees know the latest developments in their respective organizations. Preparing themselves for agility will help the C-suite strengthen its organizations in the long run.
The typical characteristic of an agile organization is that everyone is encouraged to think like an entrepreneur. Embracing this approach will benefit a company in every process, product, and service. Agile CEOs do not forget their long-term strategies. To be more agile, CEOs need to reconsider their business strategies and priorities comprehensively from time to time. It will help them ensure that their strategies and organizational objectives are relevant and are in sync with the latest business trends.
To instill an agile mindset, CEOs must align their entire workforce with a common purpose and vision. To do this, they should make every employee aware of the company strategy. Besides, they should ensure that the employees are cognizant of the business priorities and their individual roles in materializing the company’s goals. Once the employees have this knowledge and a shared vision, they can set their own goals and drive the business forward. An agile company facilitates employees to take ownership and simultaneously benefits the business at large. An ideal combination for agility is to be focused yet flexible.
Embracing business agility can greatly help CEOs have an edge over their competitors. Adapting quickly to change and learning from innovation will help survive and proliferate. The C-suite should develop an inclination for process improvement and allow the workforce to lead the business into the future
