Organizational Agility: Adapting To The Marketplace Without Changing The Core Value System
Businesses, startups and corporations alike enter into the world of commerce with a shared vision: To provide excellent products and services to their clients, remain competitive and positively participate and impact the global economy.
Beyond our control, the elements of supply and demand and the economic climate, often fluctuates.
Anticipation of a certain level of marketplace volatility is commonplace, however extreme volatility can have monumental effects on your existing business model and organization.
An organization's response to such a risk event can have a positive result for your market, business and those you employ, when proactively considered.
The project management vernacular assesses alternatives to management of such risks in various ways, including workarounds, contingencies and fallback plans, which are defined as follows:
Workarounds: “ Are the response to problems that develop whole the project is being worked that were never identified”
Contingency Plan: “Contingency planning involves defining action steps to be taken in an if an identified risk should occur”
Fallback Plan: “ Are response plans developed to deal with risks that have been identified during project planning.”
An organizations or individuals perseverance often requires and depends on how these challenges are resolved, addressed, implemented and maneuvered.
Organizational Agility has been defined as “ the capability to rapidly change or adapt in response to changes in the market.”
How Does an Organization Adapt, Evolve and Remain Agile in a Marketplace Without Changing Their Core Value System ?
Developing, analyzing and implementing the proper risk responses and strategies and being prepared to evolve in such circumstances, while maintaining the same focus, drive, vision and commitment, will assist your organization and team in steering clearly forward and navigating challenges effectively into the future. NFB
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