Organizational agility is key to remaining competitive in a changing world, allowing businesses to adapt and succeed in a challenging environment. This is what world business leaders believe are the most common factors standing in the way of businesses seeking to achieve their optimal agility.
A study by Ricoh Europe revealed that 39% of 2,140 business leaders believed regulation was the biggest issue impacting on business agility, followed by lack of investment in innovative new technologies at 37%, and rigid, traditional workplace cultures at 35%.
Interestingly, very few – only 33% – of the business leaders interviewed in the study had implemented changes designed to create and support a more agile working environment in their own companies. Instead, they favor the adoption of digital workflows to improve data analytics, management processes, and financial processes instead – seeking to spot new trends and opportunities through smarter data usage.
Trademarks of an Agile Organization
So, what does an agile organization look like? According to a study by Accenture LLP, these are the most common elements:
– Strong leadership: 62% of participants said that the right leadership team was essential. Leaders and management at every level need the competencies and accountability to handle diverse situations effectively.
– Strategic decisions are prioritized: Clear distinction between day-to-day leadership decisions and decisions that impact on overall strategy.
– Make better decisions faster: Have the right data and information on hand as soon as possible and create a culture where decision-making isn’t held up by bureaucracy. Data should be mined from multiple sources to obtain critical insights and ensure that decision-making is sound.
– Have the right ecosystem to act quickly: Rapid decision-making should be supported by a rapid response by the organization. This means that support and information is extended to suppliers and others to ensure that they can make decisions soundly and quickly.
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