A Culture of Radical Innovation Improves Your Time to Market
Radically innovative companies regularly examine external factors affecting the business because their agility poises them to react effectively and efficiently, and they know this is how they stay ahead of market competitors. Volatility, uncertainty, complexity, and ambiguity (VUCA) in your market make it important for your teams to deliver product or service iterations rapidly to stay ahead of the competition and changing conditions.
Alert and opportunity-seeking employees who are in tune with your customer base drive a culture of innovation, which translates to teams and businesses that thrive under those VUCA conditions. As market demands fluctuate, agile teams quickly examine new conditions and adapt because their leadership encourages constant experimentation within the organization. In doing so, they position your business to be the first to see how the market responds to changes and can innovate rapidly to deliver better results more quickly.
First, Practice Transparency & Build Trust
There is a close relationship between innovation and openness. Learning keeps minds open to receiving feedback and new information. As a leader, it is important to let go of fear to trust, listen, be patient, and know that investing in your employees and their development is key to retaining and maintaining sustainability. Create space and time for employees to experience learning opportunities in which they are encouraged to fail fast and often, grow professionally, and utilize new skills.
The entire company must become a learning organization, not just in classrooms, but with real-life customers and consequences. Employees need to be encouraged to experiment with new products, procedures, and services in order to become more efficient and productive in their work. It is important that everyone in the business helps to create, shape, and transform your culture to experiment, iterate, and share their findings.
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COVID-19 Helped Agile Businesses Mature in 2020
COVID-19’s global impact on organizations is undeniable. We compared survey data prior to and during the onset of the COVID-19 lockdown to gain unique insights into the disruption caused and adaptations applied.
The key finding is a significant increase in average maturity post-COVID-19. Increases are thematically concentrated in the areas of customer focus as well as the operation of an organization’s support functions such as Human Resources and Finance.