Agile Working and Its Impact on Entrepreneuers

Agile Working and its Impact on Entrepreneurs

By Leni Marlina

The way individuals approach their work is changing tremendously in today's fast shifting workplace, particularly for entrepreneurs navigating the unstable corporate environment. Agile working, which was formerly mostly connected to areas like software development, is now essential in a wide range of industries, including healthcare and finance.

Agile working fundamentally represents a way of thinking that prioritizes efficiency and flexibility over all other factors. Agile approaches, in contrast to conventional, inflexible frameworks, enable teams to swiftly modify tactics and procedures in response to novel possibilities or difficulties. This adaptability encourages a culture of continuous innovation and development in addition to increasing efficiency.

In sectors like banking where market conditions are subject to sudden changes, agile practices enable organizations to swiftly adapt, seizing opportunities and effectively mitigating risks. Similarly, agile approaches let medical professionals swiftly adjust to evolving patient needs, regulatory modifications, and technological advancements.

The tenets of agile working prioritize cooperation, openness, and cross-functional teamwork over operational effectiveness. To foster a creative and encouraging work atmosphere, these components are essential. Businesses that embrace agility may maintain their competitiveness by quickly responding to market needs and providing value to consumers more successfully.

a. Understanding Agile Working

Agile working is all about teamwork and staying flexible. Originally used mainly in software development, agile methods like Extreme Programming (XP) have become popular. XP focuses on practices such as working together in pairs and testing software before finishing it, ensuring better-quality results (McKinsey, 2023).

**A Journey Focused on Innovation**

Back in 2001, the Agile Manifesto changed how projects were managed by emphasizing people and working products over strict plans and tools (Beck et al., 2001). This shift empowered teams to make quick changes and respond to customer feedback, encouraging continuous improvement and new ideas.

For example, think of a startup creating a new mobile app using agile methods like XP. They start by defining what users need and making simple versions of the app. As they get feedback, they make quick changes, adding new features and making the app better for users.

b. Empowering Entrepreneurs

Being flexible is essential for startups to expand and be successful. It enables them to modify their strategies in response to consumer demand and market developments. Agile approaches also promote strong collaboration among small teams, leveraging individual abilities to solve issues and generate fresh concepts.

Envision a small group of entrepreneurs developing a new product with agile methods. Every day, they hold brief meetings to discuss their issues and what's going well. They feel more unified as a team when they operate in this manner in addition to working more quickly.

c. The Rise of Hybrid Work: Adapting to Change

After the COVID-19 outbreak, a lot of businesses began allowing employees to work from home. They began to employ agile working methods even more as a result. In order to hire workers from anywhere and provide them with greater flexibility, several companies now allow part-time employees to work from home (Gartner, 2023).

Consider a software company that, in the midst of the epidemic, began allowing employees to work from home. They continued to be just as productive and even increased their communication with team members by implementing agile approaches. This kind of flexibility allowed them to weather difficult times and expand their firm.

d. Challenges and Opportunities for Growth

Even though agile working helps a lot, it also makes new challenges, especially with managing people who work far away and keeping everyone talking. Good leaders and strong computer systems are really important for making sure everyone works well together, even when they're not in the same place (Raghuram et al., 2021).

Also, startups need to be careful about rules about data and keeping things safe when people work from home. They need to have safe computer systems to keep customer information and other important things safe.

e. Looking Ahead: Paving the Way for Future Entrepreneurs

Looking into the future, agile ways of working will keep changing with new ideas like AI and blockchain. These new things will help businesses make better choices and work even better (Deloitte, 2024; World Economic Forum, 2023).

Imagine a time when AI can look at how customers act and how the market changes. This will help startups make choices faster and change their plans when they need to. Blockchain can make it safer and easier to work with companies in other places, which can help startups grow even more.

f. Final Thoughts: Embracing Agility for Long-Term Success

Agile working is not only a method of working; it's also a wise strategy for companies to expand and succeed in a world that is changing quickly. Startups are able to adapt quickly and continue to develop even in the face of adversity because of their collaborative culture and constant improvement.

For students interested in studying business and agile working practices, understanding these concepts will enable them to comprehend how firms may innovate and grow. Agile methods of working enable entrepreneurs to seize fresh opportunities, resolve issues, and launch game-changing companies.

References

Beck, K., et al. (2001). Manifesto for agile software development. Retrieved from https://agilemanifesto.org/ (Retrieved July 20, 2024).

Deloitte. (2024). Agile methodologies in a digital world (p. 3). Retrieved from https://www2.deloitte.com/global/en/pages/operations/articles/agile-methodologies-digital-world.html (Retrieved July 20, 2024).

Gartner. (2023). Future of work trends post-COVID-19 (p. 10). Retrieved from https://www.gartner.com/en/newsroom/press-releases/2023-05-16-gartner-survey-reveals-82-percent-of-organization-lead (Retrieved July 20, 2024).

McKinsey. (2023). Agile at scale (p. 5). Retrieved from https://www.mckinsey.com/business-functions/organization/our-insights/agile-at-scale (Retrieved July 20, 2024).

Raghuram, S., et al. (2021). What do we know and what do we need to know about virtual work? Annual Review of Organizational Psychology and Organizational Behavior, 8, 111-137. https://doi.org/10.1146/annurev-orgpsych-041015-062501 (Retrieved July 20, 2024).

World Economic Forum. (2023). The Future of Jobs Report 2023. Retrieved from https://www.weforum.org/reports/the-future-of-jobs-report-2023 (Retrieved July 2o, 2024).