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How Agile is Your Business? (3 levels)

August 7th, 2023 | Best Practices

 

You need to be agile to survive in today’s business landscape. In times of uncertainty, you must be ready to react to threats and capitalize on opportunities. There is a big difference between being agile, and simply reacting based on gut feelings. There are three things you must know to be agile. 

3 THINGS YOU NEED TO BE AGILE 

 

  1. Leadership must be aligned on core value proposition – Your leadership team needs to understand what the core value proposition is, and all be on the same page on how you’re working towards it. If your leadership team isn’t aligned, everyone will be pushing in different directions.  Need help identifying your core value proposition? Dive into our blog, How to Identify Your Core Value Proposition to see how to nail it. 
  2. You must understand your numbers and the levers in your business – If you want to expand into a new market, do you know what you must change across your business to make that happen. Or maybe times are tough, and you need to downsize, you need to know what you reduce without harming your business ability to deliver on its core proposition.  
  3. Scalable technology and resources – Can your business support dynamic growth or change? Optimize your business and technology to enable agile decision making.  

In our How to Optimize Your Business Around Your Core Value Proposition blog, we’ll teach you how to identify your core value proposition and optimize your business around it to improve your efficiency, profitability, and overall success.  

How Agile is Your Business? 

TANGLED  

  1. Core Value Proposition isn’t clearly defined or agreed on by leadership  
  2. Functions are done the way they’ve always been done; organic, not optimized  
  3. Reacting to opportunities & threats based on gut feelings  

ON A PATH  

  1. Leadership is aligned on Core Value Proposition  
  2. Optimizing some business functions based on CVP  
  3. Using data to react opportunities & threats case-by-case  

AGILE  

  1. Core Value Proposition is understood throughout organization  
  2. Business is optimized to maximize execution of CVP  
  3. Established risk management program enables quick, strategic decisions on opportunities & threats  

Your business is most likely somewhere in the middle of tangled and agile. Some aspects of your business might be running smoothly, while others require improvement. By breaking down your core value proposition into its contributing elements, you can evaluate your current position and set your desired objectives. This process allows you to identify aspects that utilize resources without directly contributing to your core value proposition, enabling you to focus efforts on what truly matters.  

WATCH THE FULL WEBINAR  

Aldridge partnered with Doeren Mayhew to bring you a webinar to help you to learn how to become more agile & scalable during times of uncertainty. Watch the full webinar now [Webinar] Winning Back-Office Strategies