From quick logic, to quick response and quick fixing, speed is crucial to not only adapt, but lead desired change promptly.
We are living in an knowledge abundant world in which information is growing overwhelmingly, technology is pervasive and the masses are looking for their own experiences to introduce fresh understanding and new practices into the business constantly.
How successful organizations can handle emerging issues and disruptions depends on how fast and capable they can adapt to the ever-changing environment and handle a variety of issues effectively.
Quick insight: Everyday, organizations are inundated with overloaded information and issues that need to be dealt with smoothly. In order to make information more “visible” for shareholders, the companies need to investigate areas where they can have “quick insight” with new approaches to data. Intelligence is the quick and clear perception of any situation based on quality information, plus ability to adjust to any circumstances.
It is important for the business management to gain quick understanding for prioritizing as soon as possible. Reach the quick understanding through detailed risk assessment and point to the issues that need to be solved first. Leaders have flexibility to make quick decisions and communicate them clearly in order to handle situations timely and improve business agility.
Quick response: The speed of change is increasing, though businesses still do have contexts of relative certainty, while simultaneously having contexts reflecting both complexity and uncertainty. Each of these contexts requires a different management approach with the matching speed. To differentiate and accelerate, every competitive organization needs to have a unique set of core competencies to achieve business goals.
It means to break down silo mentality, bureaucracy, update toward agile management style, overcome change inertia, eliminate waste or redundancy, discourage internal politics, so digital organizations can be vibrant, highly responsive, and highly innovative for adapting to the ever-evolving business dynamic with quick response.
Quick fix: Running business is complex nowadays, in order to handle emerging issues timely and adapt to a dynamic environment, the quick solution is very focused on the specific problem, so the broader picture and potential impact on other things are explored later on. Often, the management takes well-established processes and approaches to problem-solving, processes and routines shouldn’t stifle speed and creativity.
Business strategists need to help functional managers understand the benefits of taking a broader view before jumping into actions, but quick actions and solutions are crucial to overcome challenges timely. As leaders, you should encourage fast speed, creative initiatives, you should expect mistakes and still encourage people to be proactive, be able to solve the problems or to guide the team on finding alternative solutions and this has to happen fast. You are more likely to find a diversity of perspectives at different levels in the organization, in which employees confront external realities directly and are likely to raise critical questions, identify critical problems, fix them quickly,
From quick logic, to quick response and quick fixing, speed is crucial to not only adapt, but lead desired change promptly. In order to build the business competency for long-term growth and prosperity, there is no one size fits all formula, every organization has to take the right pace, walk the talk and explore its own sets of best practices and next practices for acceleration.