A Gazelle? What’s that got to do with your business or social organization? The answer is FAST like a Gazelle (one of the fastest animals on the planet!). Fast growth. Compounding growth. A gazelle organization grows at least 20% year on year. And what is the key to such growth?
The answer is Agility. Agility to recognize business trends that you can leverage to drive your business success. Agility to adapt. Agility to grow.
Becoming agile is the way of the future. What is agile?
Here are 4 Disruptive Trends for the year ahead and how your company can adapt by becoming more Agile!
Today the “digital revolution” is transforming industries, economies, and societies. This is expressed in four current trends (from The five trademarks of agile organizations | McKinsey)
- Quickly evolving environment. Demand patterns are evolving rapidly: customers, partners, and regulators have pressing needs; investors are demanding growth, which results in acquisitions and restructuring; and competitors and collaborators demand action to accommodate fast-changing priorities.
- Constant introduction of disruptive technology. Established businesses and industries are being commoditized or replaced through digitization, bioscience advancements, the innovative use of new models, and automation.
- Accelerating digitization and democratization of information. The increased volume, transparency, and distribution of information require organizations to rapidly engage in multidirectional communication and complex collaboration with customers, partners, and colleagues.
- The new war for talent. Companies need a distinctive value proposition to acquire—and retain—the best talent, which is often more diverse.
5 Characteristics of Agile Companies
The trends described above are dramatically changing how your company and your employees work. Becoming agile is the way of the future. What is agile? How can you become agile?
According to McKinsey, “An agile organization (designed for both stability and dynamism) is a network of teams within a people-centered culture that operates in rapid learning and fast decision cycles which are enabled by technology, and that is guided by a powerful common purpose to co-create value for all stakeholders.”
Well that’s a mouthful!
Let’s break that down to 5 key characteristics your company will need to navigate these disruptive trends. You may note how similar they look to the Gazelles Scale-Up philosophy.
- Strategy – your North Star is understood across your organization.
- Structure – A flat organization with networked and empowered teams
- Process – Rapid, action-oriented decision making
- People – Dynamic people that fit your company
- Technology – Next generation enabling technology
The next question is how to get there? At your next Leadership Team meeting, focus on these five trademarks of an agile company – how does your company compare. Which do you need to focus on?
Contact me to discuss how your company can become more agile.
All the best
Concepts and Excerpts from The five trademarks of agile organizations | McKinsey.
© 2019 David Paul Carter. All rights reserved.