Building agility in your business

By Dan Morgan, Managing Partner, Haines Watts Esher

BUILDING as a cost-saving measure but businesses should now look to tech as a way of modernising processes and ultimately a way of creating compAGILITY etitive advantage. It used to be risky for businesses to experiment with new technologies however, the climate has changed and customers are more IN YOUR forgiving for new initiatives not being faultless immediately. Businesses should take advantage of this shift in their client’s behaviour and experiment BUSINESS more with utilising additional tech in their business, if they don’t they’ll end up being left behind. It’s also important to remember that businesses that spend money on developing new Agility within your business begins at for R&D tax relief. the top and being an agile leader is a skill that can be learned over time. It can One example of a business adapting to be a tough transition as it involves step- unexpected circumstances is G-Tech ping out of your comfort zone and who are most well-known for creating accepting failures as an inevitable part the world’s fi rst cordless vacuum. When of business. Most people’s natural reac- the founder received a call from the tion is to avoid failure at all cost but this government’s chief commercial offi cer can hinder progress and inhibit innova- during the early stages of the Covid-19 tion. Without a willingness to take risks pandemic, they moved from producing you can’t experiment or innovate. This vacuums to ventilators overnight to limits your businesses long term ability support hospital demand. He began to respond to change and adapt and working on the project on Sunday you ultimately render your business morning and by Thursday his team unsustainable. were operating effi ciently and meeting

ENCOURAGE NEW IDEAS

Businesses who are able to adapt The ability to adapt to market-changes quickly and respond to new conditions, rapidly and fl exibly is when you know typically have a culture in which TECHNOLOGY DRIVES that your business is agile. The future they advocate new ways of thinking CHANGE will never be certain and we as business and experimentation. This environment There has been a shift to embrace owners must plan for the unexpected. doesn’t just happen, it’s driven by new technology at pace over the last Working to build flexibility into every the behaviour of leaders and man- months, however, this has been out area of your operations is the only way agers. Create an environment in which of necessity rather than a strategic a business can remain sustainable over your people are encouraged to chal- move. New technology is often seen a long period of time. lenge established practices, try new ways of working or contribute new ideas. Embed a process to explore these. Fostering this type of environprocesses or systems can be eligible the basic specifi cation. ment enables you to launch new For more information: products and services more quickly – www.hwca.com/accountants-esher/ and is key to securing competitive T: 020 8549 5137 advantage. E: esher@hwca.com