Building the fundamentals of business agility
Rigid processes, culture and inefficient technology biggest barriers to success, say Europe’s business leaders. Majority believe data holds the key to improving agility.
Ricoh Europe, London, 14 March 2018 – A new study commissioned by Ricoh Europe has revealed what European business leaders believe is keeping them from achieving organisational agility.
The list is topped by regulation (39%), lack of investment in new technologies (37%) and inescapably rigid internal hierarchies (35%) according to the 2,140 business leaders surveyed. These roadblocks run contrary to the fluid, agile nature of a digitally empowered workplace that enables companies to quickly capitalise on changes in the market.
At the same time, worryingly few business leaders are trying to foster an agile working environment in their organisations. Only 33% claimed they actively encourage a workplace atmosphere that prioritises quick reactions to customer needs.
Javier Diez-Aguirre, VP Corporate Marketing, Ricoh Europe said: “Business agility is both a mind-set and an ability to respond quickly. To achieve true agility, companies need to conduct a business-wide 360 degree review. This will re-assess how processes, culture and technology actively benefit an organisation.”
Many business leaders view the adoption and improvement of digital workflows as a key area of development. The most cited top priorities for improving agility are data analytics (50%), management processes (41%) and financial processes (39%). Deploying analytics technology to spot new trends and opportunities has also become the norm for the majority of business leaders (60%); emphasising the fact that the smarter use of data is key to improving agility.
Diez-Aguirre added: “In today’s business environment, using technology to capitalise on new opportunities is key. But this alone isn’t enough. Leaders need to encourage an open minded culture where employees are empowered to take measured risks. Quick decision-making skills and the ability to rapidly execute are also essential. The good news is that Europe’s business leaders clearly recognise how investment in a digitally empowered workplace forms the foundation for profitable business agility.”