7.1: What Is Business Agility? - Video Tutorials & Practice Problems

<v ->Welcome to Lesson 7.</v> First, we need to define business agility. Logically, the primary source of this definition is the Business Agility Institute, which is now approaching 5,000 members worldwide. According to this organization, "Business agility is a set of organizational capabilities, behaviors, and ways of working that afford your business the freedom, flexibility, and resilience to achieve its purpose." Very well done. There are four components of business agility as defined by agile consultancy called SolutionIQ, which is now part of Accenture. The first one is deliver fast and responsively. This is called delivery agility. The second one is innovate and disrupt. That relates to the product innovation. Third one is adapt organization and culture, which is organizational adaptability, or continuous improvement that we have previously discussed. And the fourth is lead through complexity, which is leadership effectiveness. Leadership culture is very important for any agile implementation. Overall, business agility enables organizations to innovate and to deliver more effectively. It turns market disruption into competitive advantage, and also it's really helpful in complex environments. So let us review, how does it translate into specific organizational functions?