How to Outrun your Competition with Change Agility

Let’s see how agility & resilience are two sides of one coin...

Being agile and resilient during change are two sides of the same coin called adaptive capacity.

Whilst agility is your ability to move quickly and decisively and to do so with ease and comfort, resilience is your ability to quickly and effectively recover from challenging situations.

Change-agility embraces the values and principles of the original Agile Manifesto:

  • Collaboration and cooperation
  • Flexibility and simplicity
  • Early and continuous delivery of value to the customer

Benefits of Change-agility

Forty-two per cent of Fortune 1000 senior leaders who responded to the Protiviti Inc. survey of risk profiles named competition as their most daunting external threat. And 71% of multinational companies surveyed by PWC said that market competition was a leading driver of change in their organisations.

Organisations that build the right kinds of change leaders will be best able to operate in a fast-paced and even turbulent business environment. They will, therefore, outperform other organisations in terms of competitiveness, market share, and profitability.

Agile Change Leaders have learned to optimise their social capital.

They:

  • Grow large informal networks with mutually beneficial relationships
  • Create and maintain personal trust
  • Build close-tie relationships across all levels of their organisation

The benefits are clearly speed and information. Agile leaders can multiply their impact through the sponsorship network they’ve weaved. Every connection gives them access to information and feedback.

Once an organisation embraces investing time and efforts into practices that build change-agility, we observe a virtuous cycle of positive experience of change, assertive trials, innovation and evolutions, more growth and investment in adaptive capacity. (Source)

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Successful change leaders stay abreast of the competition by learning and accelerating through social capital.

Staying one step ahead is among the primary drivers of change. You must be aware of your competitors’ actions and strategies.

As globalisation, a new generation and accelerated technologies keep challenging businesses to innovate, we observe interesting trends to increase design-thinking and co-creation. These techniques link into establishing practices that create social capital.

Social capital is closely linked to innovation and the speed to market. By inviting your employees and customers to the table you establish relationships and trust early whilst gaining valuable insights into how to design superior solutions fast.

How to Outrun your Competition with Change Agility

Dr Carol Kinsey Goman, author of the book This Isn’t the Company I Joined: How to Lead in a Business Turned Upside Down, notes two other successful strategies companies use to encourage change-agility:

  • Providing regular context and external perspective through industry experts
  • Encouraging employees to constantly question the status quo by keeping them informed of customer feedback, competitor activity, and financial considerations.
author_bio_eva

Eva is one of the masterminds behind Approach Services' blog and The 6 Cents of Change. She is an innovator, trainer and change manager. Her work has been published in Schmalenbach Journal of Business Research. In her spare time, she enjoys camping with her two little boys and permaculture gardening.

To learn more about us and the solutions we provide, subscribe to The 6 Cents of Change, follow us on LinkedIn or connect with us here info@approach-services.com or +61 (08) 610 20 343.

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