Business agility refers to the “ability of a business system to rapidly respond to change by adapting its initial stable configuration”.It can be sustained by maintaining and adapting goods and services in meeting customer demands, adjusting to the changes in a business environment, and taking advantage of available human resources.
In a business context, agility is the ability of an organization to rapidly adapt to market and environmental changes in productive and cost-effective ways. An extension of this concept is the agile enterprise which refers to an organization that uses key principles of complex adaptive systems and complexity science in achieving success. Business agility is the outcome of organizational intelligence.
WHAT IS BUSINESS AGILITY?
Business agility is the ability of an organization to:
- Adapt quickly to market changes – internally and externally
- Respond rapidly and flexibly to customer demands
- Adapt and lead change in a productive and cost-effective way without compromising quality
- Continuously be at a competitive advantage
Business agility is concerned with the adoption of the evolution of values, behaviours and capabilities. These enable businesses and individuals to be more adaptive, creative and resilient when dealing with complexity, uncertainty and change leading to improved well-being and better outcomes.
BUILDING AGILE BUSINESS