Business Agility with LRV
Business agility is often defined as “the ability of an organization to rapidly respond to change” (De Smet). Some definitions suggest adding a shift from a stable configuration, others offer a user- or customer-centric focus, but all of them share the simplicity of speed, action, and intention. Could that really be all there is?
Let’s take a closer look at what enables business agility…
Learning
A learning organization is one that “facilitates the learning of its members and continuously transforms itself” (Senge). It is through the constant pursuit of knowledge and experience that the learning organization is able to leverage its wisdom to adapt quickly, and often positively, to swiftly changing conditions. Responding rapidly, yes, but also openly and strategically. Instead of relying on only what they know today, the fastest runners train in all kinds of conditions, get coaching from several different perspectives, watch tape of themselves and others, and seek out ways to become even faster. Similarly, an organization’s investment in its collective intelligence and willingness to experiment is what allows it not just to continuously transform but to continuously improve.
Responsiveness
You needn’t look far on any social media platform to identify responsive organizations… and non-responsive organizations. A responsive organization is attuned to the needs, wants, and interests of its customers, and it works to aid those customers as quickly as possible. Responsive organizations look to their constituents both for stimuli and for the most appropriate ways to respond. They understand the value of building a relationship, of building trust, and of setting honest expectations. A friend once lamented on Twitter that her plane was delayed and she was hungry. The airline responded to her message within minutes asking what she might like to eat. Two tacos and a couple drink tickets later, the airline had invested in a customer for life, even though her plane was delayed for three more hours. Responding rapidly, yes, but also with heart and with customers’ needs first and foremost. An organization’s investments in customer feedback and thoughtful responses allow it not just to see change coming before anyone else but to collaborate with its customers through the change in ways that strengthen loyalty and investment over the long-term.
Value
At first glance, one might think a value-driven organization is focused solely on stock prices or EBITDA or dividends, etc. That’s certainly one type of value. Principles, people, and margins are all types of value, and value-driven organizations recognize the exponential gains available when pursuing all three instead of just one. What does a value-driven organization do differently? It relentlessly asks “why”. It prioritizes and pursues those initiatives and actions that:
- align with its principles, vision, mission, and strategic goals
- support and invigorate its people
- drive returns on the time, energy, and financial investments of its customers, shareholders, and employees
Responding rapidly, yes, but intentionally and purposefully. It’s said if you don’t know where you’re going, any road will get you there. An organization’s investments in understanding its purpose and delivering a broad-spectrum of value allow it to do its greatest work both in the community and in the market, aligning its mission with the right path forward no matter the conditions.