In today’s fast-changing business environment, organizational agility is of great value to maintaining a competitive advantage.
So say the executives surveyed in a 2009 Economist Intelligence Unit report: “Organisational agility: How business can survive and thrive in turbulent times”, March 2009.
Ninety percent of interviewed executives believe “organizational agility is critical for business success”, and one half of the CEOs and CIOs agreed that “rapid decision-making and execution are not only important, but essential to a company’s competitive standing”.
The report goes on to say that over 80% of these respondents have undertaken one or more change initiatives to improve agility, but 34% of those initiatives failed to deliver the desired benefits.
One of the main obstacles? You guessed it: slow decision-making.
What this tells me is that these failed initiatives stumbled out of the gate because they neglected to address the core decision processes within the organization. How can you improve overall competitive agility if your change initiatives are hamstrung by slow decision-making?
Start from solid ground. Optimize how your organization makes decisions first, so that when you’re faced with uncertain, risky opportunities or threats you’ve got a dependable process to get you through a team decision quickly.
Here’s the full report: