Strategic Planning Frequently Asked Questions and Answers

What Is Business Agility?

Business agility refers to a company's ability to react quickly to changes in the external environment, or marketplace so they can avoid being damaged by potential elements that can be threats to their business model, and, respond quickly as there are new opportunities as a result of shifts and changes in things like demographics, customer behavior, etc.

Because the pace of change in the business world is so much faster than it used to be, one of the characteristics of company's that become and stay successful is that they can react quickly. For example, the first company to identify a new consumer want or need, AND produce a product that fills that need is likely going to accrue huge revenues, and a long term competitive advantage compared to those entering the market at a later point.

Simply put business agility means being able to predict, adapt to, and be proactive with respect to change.