Business everywhere is being disrupted. It’s no longer a question—it’s a fact. Technology is advancing at a breakneck pace and developing more quickly than companies can adapt: Welcome to the Age of Disruption.
What is the Age of Disruption?
The Age of Disruption is the name of the fourth industrial revolution, signifying great change in Cloud Computing, Big Data, Blockchain, Artificial Intelligence, and Cyber Security. Across all of the emerging technologies, businesses are struggling to adapt to the constant change. New technologies are “disrupting” what was once considered normal business operations, forcing companies to embrace digital transformation or be left behind.
These changes are radical advancements throughout technology. From the conception of the World Wide Web in 1989 to the massive shift of media abandoning print for online platforms, we have more information en masse than ever before. While this amount of information alone could cause disruption, it’s the technology being derived to harness and interpret it that is causing the most radical changes to business. Industrial revolutions are case in point for social Darwinism, often mirroring the “adapt or die” adage. However, the Age of Disruption does this to an extreme with a prediction by many that by 2030, 40 percent of Fortune 500 companies will no longer exist.
Digital disruption is here to stay and only a mere 20 percent of companies are prepared to address it. So how are companies learning to adapt? They’re adopting an Agile approach.
Agile Business: More than a Methodology
When it comes to Agile project management, many people think software development or technology, but that’s just one use case of the methodology. In fact, Agile is one of the best ways to implement Digital Transformation within a business as it helps teams to continually adapt to changing scope and deliverables. The major advantage that the Agile business methodology provides is the ability to manage changing priorities in a highly volatile environment. In other words, Agile works alongside disruption, constantly adapting to market changes rather than being impeded by it.
An Agile business is formed around the basic tenets of project management, providing a standardized method of handling common business tasks and operations. Agile responds flexibly to changing insights, scope or deliverables. Ultimately, Agile provides a controlled process, resulting in shorter delivery times and higher quality deliverables.
Businesses that are Agile have numerous advantages over competitors that are still running the waterfall methodology, the most important of which is the ability to adapt to the digital disruption in the market today. A few additional advantages businesses leverage when using an Agile methodology are:
- Increased reaction time
- Adapting to and mitigating risk
- Providing project management for technical and non-technical employees
- Increased control over quality
- Continual improvement increasing internal and external customer satisfaction
When factoring in all the advantages above, it’s clear to see why businesses are implementing Agile transformation. It not only increases output but the quality of that output, providing a competitive edge in an unstable market.
Build the Foundation for Agile Transformation
Effective executives know that instigating business changes do not happen instantly—they are a continual process started with small initiatives. Luckily, like many business initiatives, Agile transformation can start small with management or a single team. Businesses wishing to adapt the Agile methodology need to start with a strong foundation; training stakeholders, leadership, and teams on the basics of the Agile Scrum methodology.
The purpose of building the foundation of an Agile business is twofold. First, you want to develop a standardized language across your team and company. By doing this you not only increase the communication speed within teams but begin the development of cross-functional teams—an essential component of an Agile business. The second purpose, though more subtle than the first, is just as important: Identifying your leaders for further training, those who will become an Agile Scrum Master (ASM). These new ASMs are essential to the secondary phase of implementing Agile throughout the company.
By further training these employees, you empower them to make decisions for their team while still aligning to business objectives and thus, build the foundation of an Agile business. Further Agile transformation varies based on the unique needs of your company, but developing a customized Agile solution is achievable with the right partner. Click here to learn how Simplilearn helped one business transform with Agile.
Make no mistake; initiating Agile transformation is a bold move for any company and requires the company to make significant internal investments before seeing market returns. Master the Age of Disruption with Agile and assure that your business not only survives the Fourth Industrial Revolution but thrives.