The last few years have been a perfect example of why agility is so important for SMBs. The global landscape has changed drastically, and businesses that were not able to adapt quickly enough have suffered greatly. The pandemic has forced many businesses to close their doors permanently, but those that were able to pivot and find new ways to operate have been able to weather the storm.
Whether your company was shuttered due to COVID-19 lockdowns or you had to find ways to create a touchless customer experience, agility is key. SMBs that can be agile and adapt to the ever-changing landscape will be the ones that thrive in the years to come.
Irrespective of whether your company is facing a global pandemic or something as simple as shifting market conditions, if you want to survive and reach your business objectives, you must improve your organization’s speed, adaptability, and innovation. Agility will help your SMB become more resilient and responsive to change.
What is business agility?
Business Agility is defined as the ability to rapidly adapt to changes in the business environment. This is accomplished through the implementation of flexible systems and processes that allow for quick reaction to opportunities and threats. Agility is essential for SMBs, as they often lack the resources of larger businesses. By being agile, SMBs can manage their growth more efficiently and productively, which leads to increased efficiency and decreased costs.
Businesses that prioritize agility can manage their growth in a flexible, independent, and productive manner. As a result, efficiency increases, and costs decrease. Agility is essential for small and medium businesses (SMBs), as they often lack the resources of larger businesses. SMBs that are agile can more efficiently manage their growth, leading to increased efficiency and decreased costs.
With the agile approach, you don’t have to predetermine the way forward. Instead, you can make iterative changes based on feedback loops generated throughout the growth process. For example, you can get feedback from employees and other key stakeholders. Based on this feedback, you can make additional changes to accommodate all the constructive recommendations. Since clients are also involved in the process, you can use their feedback to identify priorities and make changes.