Reduce reaction time

If agility was becoming a business requirement in the last few years, it has become imperative in today’s scenario. Never before has the world come to complete standstill as it has this year, bringing with it unprecedented changes. The rapid adoption of technology changing consumer journey, changing needs… are few that come to mind.

Only those businesses that could quickly change and adapt to a change in demand in the market have been able to take advantage of the opportunity that this uncertainty ridden scenario threw up.

Agility today is defining the very viability of a business.

Being nimble can mean the difference between growth and failure.

In many ways, agility for a business is similar to fitness and flexibility for a person. Just as good health allows a person to fight off disease and stress, agility equips a business to deal better with the changing markets, competition, client preferences and regulations.

Every company needs to make agility an integral part of its culture.

How does one do that?

Here are a few steps that can help

Step 1: Focus

Business Focus
Identify your company’s core competencies.
What does your business excel at?
What do your customers value most?
What is your USP that your competitors can’t duplicate easily?

These core competencies can be products, expertise, manufacturing process, clients, relationships in the industry or even employees.

Step 2: Relevance

Next, determine what markets you can cater to from the products and services that arise from your core competencies.

How does the company stand out?

Can you make money from this distinctiveness?
To evaluate market opportunities and your fitment – market research is a must. Hiring a Market research company may be a wise call.

To Read Full Article Visit :

Author's Bio: 

Ethique Advisory provides business coaching and consulting services with a focus on ‘Customer First’.