Research indicates that agile organizations experience long-term EBITDA growth of 16%, compared to 6% for non-agile organizations. In essence, strategic agility allows companies to stay competitive by recognizing and capitalizing on opportunities while also identifying potential threats and mitigating or preventing them.
What Exactly is Strategic Agility?
Strategic agility refers to an organization’s ability to sense and respond swiftly to environmental changes while maintaining a clear strategic direction. It involves the capacity to make timely decisions, allocate resources effectively, and adjust strategies and tactics as needed.
At its core, it relies on the intentional efforts of company leaders to design an organizational structure where information can flow seamlessly and a clear business strategy to provide focus. Clear and quick communication allows an organization to immediately pivot away from something that isn’t good for business or rapidly lean into efforts that are working to help create a competitive advantage.
How to Prioritize Strategic Agility in Your Organization
As leaders, it is important to be intentional about taking the time to work on the business vs. work in the business. This requires a perspective shift in “altitude.” Are your leaders taking more of a “50,000-foot view” of the external and internal landscape of your business on a regular basis? Or, are they constantly “in the weeds” with their teams? Dedicating time for discussion to ensure consistent understanding of the various factors that impact your business landscape helps create strategic agility.
At Keystone, we provide a diverse array of in-person and virtual workshops to ignite discussions about authentic growth at the intersection of business and human needs. Our sessions cover various themes, including leadership, strategy, and culture. These workshops are designed to infuse leaders from every industry with new perspectives and pioneering ideas with the goal of enriching their workplace environment to help drive business results.
Prioritizing strategic agility also requires teaching employees at all levels how to think about the future of the business while focusing on the most important requirements that need to get done today. Are they making the most right choices in their day to day to support the business strategy and Vision of your company?
Having strategic agility means exercising it regularly. It’s not a set-it-and-forget-it operation. If your team is not using the muscle, then you’re losing opportunities.
Where Do I Start?
Strategic agility is best practiced in organizations with a solid foundation. This includes:
- GREAT Leadership
- Often, we see organizations make the mistake of accepting mediocre, good-enough leaders because they don’t want to dedicate the time, energy, or investment to replace them with exceptional leaders. Prioritizing the right leaders in the right seats to respond to strategic needs is vital to strategic agility and growth.
- Aligned Focus
- Employees can easily lose sight of the bigger picture that your organization is working towards. With clear and consistent communication of the company’s goals, definition of success, and how each individual plays a role, you’ll help them remain motivated and focused on the end game.
- Connected Employees
- Human connection is one of the most undervalued and effective strategies at your fingertips. With some thoughtful effort and intentional communication promoting employee connection is easily within reach. Investing in engaged employees who are committed to your vision helps increase retention, moral and productivity.
If you need help prioritizing strategic agility in your organization, schedule a call with out Keystone team today: https://www.keystonegroupintl.com/contact/
