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As a business leader, navigating through disruption is an inherent part of the journey. Be it through technological advancements, market shifts or global crises, the ability to lead with agility has become more important than ever for survival and success.
Let’s look at one of the most recent disruptive events in the history of mankind—the Covid-19 pandemic.
Undoubtedly, it has been one of the most disruptive events in recent memory, challenging businesses worldwide and creating a chain of disruptions in the process. During this tumultuous time, agile leaders stood out by navigating the storm with resilience and adaptability, starkly contrasting with many who succumbed to the pressure of uncertainty.
But what exactly does agility entail in leadership? And how can individuals cultivate this indispensable skill? Allow me to share my insights.
What Is Leadership Agility?
For me, agility embodies a multifaceted approach to navigating change and uncertainty. Some of the key elements of leadership agility include:
1. Adaptability In Action
Adaptability sits at the core of agility. It’s about the ability to swiftly adjust strategies and operations in response to shifting market dynamics. In today’s fast-paced and unpredictable business environment, the capacity to adapt quickly can mean the difference between success and failure.
Take, for example, Best Buy, which faced declining sales and foot traffic as consumers increasingly turned to online shopping. Rather than clinging to traditional offline stores, the management embraced digital transformation and revamped the company’s business model. The last I checked, online sales now contribute around 40% to Best Buy’s annual revenues.
So how can you be more adaptable as a leader?
• Embrace change. Foster a mindset that sees change as an opportunity rather than a threat.
• Stay informed. Stay abreast of industry trends, market shifts and emerging technologies.
• Prioritize learning. Continuously seek opportunities to learn and grow, both personally and professionally.
2. Embracing Innovation
Agility also encompasses a culture of innovation within the organization. Business leaders today have to foster an environment where creativity can thrive, encouraging teams to explore new ideas and experiment with unconventional approaches.
Google’s “20% Rule” policy is an excellent example demonstrating the company’s commitment to innovation and agility. Under this policy, employees are encouraged to dedicate a portion of their workweek to pursuing passion projects outside their core responsibilities. The policy has led to the creation of various groundbreaking products, including Gmail and Google News.
How can leaders embrace innovation?
• Encourage creativity. Create a safe space for team members to brainstorm and experiment with new ideas.
• Foster collaboration. Encourage cross-functional collaboration to leverage diverse perspectives and insights.
• Lead by example. Demonstrate a willingness to embrace change and try new approaches yourself.
3. Strategic Risk-Taking
Another critical aspect of agility for business leaders is strategic risk-taking. In a rapidly evolving marketplace, playing it safe is often riskier than taking calculated risks. Leaders must be willing to step outside their comfort zones, seize opportunities and make bold decisions to propel the organization forward.
Netflix is a prime example of this. From being a DVD rental service in the early 2000s to transitioning to a streaming platform in the early 2010s and currently being the largest streaming service with over 260 million paid customers globally, Netflix has revolutionized online content consumption.
How can business leaders be strategic risk-takers?
• Assess risks. Conduct a thorough risk assessment to understand the potential impact and likelihood of different scenarios.
• Balance risks and rewards. Evaluate the potential rewards against the associated risks before making decisions.
• Learn from failure. Embrace failure as an opportunity to learn and iterate, rather than a setback.
4. Effective Communication
A common trait I’ve observed among agile leaders is transparent and open communication. They ensure their vision, goals and strategies are clearly communicated to all stakeholders, fostering alignment and trust within the organization.
Microsoft CEO, Satya Nadella’s, “One Microsoft” memo, which he sent to all employees on his first day as CEO, is a great example of a leader prioritizing transparent communication. In the memo, Nadella outlined his vision for the company and emphasized the importance of collaboration, innovation and customer focus.
How can leaders improve their communication skills?
• Be clear and concise. Clearly and concisely articulate your messages to ensure understanding among stakeholders.
• Practice active listening. Listen attentively to the perspectives and feedback of others to demonstrate respect and foster open dialogue.
• Be accessible. Make yourself available to employees, customers and other stakeholders for questions, concerns and feedback.
5. Building Resilience
Finally, agility for business leaders entails building resilience within the organization. In times of crisis, setbacks are inevitable, but it’s how leaders respond to adversity that matters most. Resilient leaders remain calm under pressure, inspire confidence in their teams and lead by example.
I remember staying at JW Marriott when the travel restrictions were mostly lifted in Canada and was truly impressed with how they had adapted their business model to prioritize safety. From rigorous health and safety protocols to mobile check-ins and keyless entry options, they demonstrated agility and resilience in the face of unprecedented challenges.
How can you build resilience as a leader?
• Cultivate emotional intelligence. Develop self-awareness and empathy to effectively manage stress and navigate challenging situations.
• Prioritize well-being. Encourage work-life balance and provide resources to support physical, mental and emotional well-being.
• Develop contingency plans. Prepare for potential setbacks by developing contingency plans and alternative strategies.
The Power Of Agility In Leadership
Leading through disruption requires an agility mindset—a willingness to accept change, foster innovation and lead with resilience. While these skills cannot be mastered in a day, consistent efforts can deliver exceptional results, ultimately empowering leaders to navigate through uncertainty and emerge stronger.
As Sun Tzu is often credited as saying, “In the midst of chaos, there is also opportunity.” It’s up to us as leaders to seize those opportunities and lead our organizations toward a brighter future.
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