Considering the pace of change in today's world, agile business—the process of making quick decisions based on the information you have and the willingness to adopt new strategies as you go along—has gone from being a competitive advantage to a necessity for many organizations.
I was curious about how modern business owners view the future of agile business, so I talked with Adelaida Diaz-Roa, co-founder of social travel network Nomo FOMO and Aaron Michel, partner at venture capital firm 1984 Ventures.
Both Diaz-Roa and Michel support agile business in their own enterprises. Diaz-Roa defines it as “having a work culture built around trust, speed, flexibility and transparency. It's about empowering everyone on the team to take risks to achieve the company's mission, knowing that their manager will support them if they fail."
“Agile business enables a company to be more nimble, eliminate waste and reduce lead times," Michel adds.
Where Is Agile Business Headed?
Agile business got its start in the tech playgrounds of Silicon Valley, but it's becoming increasingly common in large corporations around the world.
“Agile organizations are becoming flatter, trusting employees to act as business owners," says Diaz-Roa. “People operations are more important, leading to an increased focus on individual accomplishments."