{"id":11601,"date":"2021-05-23T12:57:00","date_gmt":"2021-05-23T12:57:00","guid":{"rendered":"https:\/\/www.walkme.com\/blog\/?p=11601"},"modified":"2023-05-08T07:48:36","modified_gmt":"2023-05-08T07:48:36","slug":"resilient-business","status":"publish","type":"post","link":"https:\/\/www.walkme.com\/blog\/resilient-business\/","title":{"rendered":"Why a Resilient Business Depends on Both Agility and Innovation"},"content":{"rendered":"\n<p>Building a resilient business can help your organization thrive during unforeseen disruptions, but not all interferences are unpredictable. Getting ahead of the curve with technology-driven changes can improve organizational resilience in several ways.<\/p>\n\n\n\n<p>The COVID-19 crisis was a perfect example of this. In the past year, the most resilient businesses were those that had already prepared for inevitable technology-driven changes, such as the arrival of cloud computing. Organizations that hadn\u2019t yet migrated to the cloud, however, were forced to rapidly adopt <a href=\"https:\/\/www.walkme.com\/glossary\/wfh\/\" target=\"_blank\" rel=\"noreferrer noopener\">work-from-home (WFH)<\/a> policies, as well as implement widespread safety measures, new business strategies, and brand-new operating models.<\/p>\n\n\n\n<p>Below, we\u2019ll look at a few technology-driven changes that are seemingly inevitable, so you can get ahead of them before they transform the marketplace. In order to build the perfect change management plan, let\u2019s first clarify the difference between agility and innovation\u2014both of which are pivotal to business resilience in today\u2019s fast-paced world.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Agility vs. resilience vs. innovation<\/strong><\/h2>\n\n\n\n<p>According to consultancies such as <a href=\"https:\/\/www.mckinsey.com\/business-functions\/organization\/our-insights\/agile-resilience-in-the-uk-lessons-from-covid-19-for-the-next-normal\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">McKinsey<\/a>, agility is a cornerstone of business resilience\u2014the more responsive and flexible an organization is, the easier it will be to respond to unexpected changes.&nbsp;<\/p>\n\n\n\n<p>Yet agility and innovation are not the same, according to <a href=\"https:\/\/hackernoon.com\/being-innovative-and-being-agile-are-different-1c5fef4db217\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Karine Sabatier<\/a>, founder of Hackernoon, who says:<\/p>\n\n\n\n<p><strong>Innovating is creating change. Being agile is adapting to change. The mindset is radically different.<\/strong><\/p>\n\n\n\n<p>In short: Agility follows, while innovation leads.<\/p>\n\n\n\n<p>Today, agility is more essential than ever, enabling resilience when disruptions threaten normal business operations.<\/p>\n\n\n\n<p><a href=\"https:\/\/change.walkme.com\/innovation-strategies\/?t=21&amp;camp=walkme-blog\" target=\"_blank\" rel=\"noreferrer noopener\">Innovation<\/a>, however, is what drives change forward. Since disruptive innovation is ongoing and predictable, companies that want to adapt to forthcoming innovations can begin by investing in innovation earlier rather than later.<\/p>\n\n\n\n<p>According to <a href=\"https:\/\/www.prophet.com\/download\/the-2020-state-of-digital-transformation\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Altim<\/a><a href=\"https:\/\/www.prophet.com\/download\/the-2020-state-of-digital-transformation\/\">eter<\/a>, digitally mature companies focused on digital innovation in 2020, despite the hardships caused by the pandemic. That forward-thinking innovation is what allowed them to pull ahead while less mature companies were focused on building out more basic digital capabilities.<\/p>\n\n\n\n<p>McKinsey also revealed a <a href=\"https:\/\/www.mckinsey.com\/business-functions\/strategy-and-corporate-finance\/our-insights\/the-great-acceleration\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">widening gap among industries<\/a>\u2014those leading before the pandemic pulled farther ahead, while those that were lagging before the pandemic fell by the wayside. One of the reasons suggested for this disparity came from the leaders\u2019 competence in creating \u201cresilient, future-ready business models.\u201d<\/p>\n\n\n\n<p>The question then arises, what does \u201cfuture-ready\u201d mean and how can we prepare?<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>To build a resilient business, focus on innovation<\/strong><\/h2>\n\n\n\n<p>Digital innovation and technology-driven disruption can be easier to predict than other <a href=\"https:\/\/www.walkme.com\/blog\/5-types-of-organizational-change\/\" target=\"_blank\" rel=\"noreferrer noopener\">types of changes<\/a>, such as shifts in customer behavior.<\/p>\n\n\n\n<p>In the years to come, we\u2019ll see the mass adoption of technologies that are still emerging today, such as artificial intelligence (AI) and blockchain.<\/p>\n\n\n\n<p>ARK Invest\u2019s Portfolio Manager and Chief Investment Officer, <a href=\"https:\/\/ark-invest.com\/our-team\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Cathie Wood<\/a>, specializes in disruptive innovation, and her entire investment fund is built around disruptive innovation.&nbsp;<\/p>\n\n\n\n<p>According to her firm\u2019s research, five platforms and fourteen technologies will converge in the coming years and radically revolutionize the modern world.<\/p>\n\n\n\n<p>Their five platforms include:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Artificial intelligence<\/li><li>Energy storage<\/li><li>Robotics<\/li><li>DNA sequencing<\/li><li>Blockchain technology<\/li><\/ul>\n\n\n\n<p>These platforms will ultimately enable fourteen specific technologies that will upend many \u201cconventional\u201d industries that have dominated the economy for decades.<\/p>\n\n\n\n<p>Those fourteen technologies include:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Blockchain<\/li><li>Frictionless value transfer<\/li><li>Autonomous mobility<\/li><li>Battery systems<\/li><li>Sequencing technology<\/li><li>Gene editing<\/li><li>Immunotherapy&nbsp;<\/li><li>Adaptive robotics<\/li><li>3D printing<\/li><li>Reusable rockets<\/li><li>Neural networks<\/li><li>Mobile connected devices<\/li><li>Cloud computing<\/li><li>Internet of Things (IoT)<\/li><\/ul>\n\n\n\n<p>Naturally, each of these platforms and technologies will have a unique impact that will play out on a different timeline.&nbsp;<\/p>\n\n\n\n<p><a href=\"https:\/\/www.walkme.com\/blog\/the-future-cio\/\" target=\"_blank\" rel=\"noreferrer noopener\">Future-focused Chief Information Officers<\/a> are taking the strategic helms at their organizations and making massive investments in emerging technologies. When those technologies become the norm, they will disrupt existing economics, business models, and competitive landscapes.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>How to prepare for technology-driven disruption<\/strong><\/h2>\n\n\n\n<p>The important takeaway is that change is coming, and keeping a finger on the pulse of the market\u2019s innovation is key to staying resilient.<\/p>\n\n\n\n<p>Here are a few points to keep in mind when building a future-ready, resilient organization:<\/p>\n\n\n\n<p><strong>Pay attention to technology trends and forecasts.<\/strong> There are many, many research firms that offer insights and perspectives on the technology-powered revolution. Among the best are business consultancies, such as McKinsey, Deloitte, and BCG. These firms stay on the cutting-edge of technology and business, consistently presenting insights regarding the tech trends of tomorrow.<\/p>\n\n\n\n<p><strong>Invest in both agility and innovation.<\/strong> To reiterate the point made above, agility is essential for resilience in the face of unpredicted changes, while innovation can help a company prepare for more predictable changes.<\/p>\n\n\n\n<p><strong>Build business functions dedicated to digital transformation and adoption.<\/strong> <a href=\"https:\/\/www.walkme.com\/digital-adoption-platform\/?t=21&amp;camp=walkme-blog\" target=\"_blank\" rel=\"noreferrer noopener\">Digital transformation<\/a> is essential for any organization that wants to attain digital maturity, innovate, and stay resilient in the digital era. <a href=\"https:\/\/www.walkme.com\/glossary\/digital-adoption\/?t=21&amp;camp=walkme-blog\" target=\"_blank\" rel=\"noreferrer noopener\">Digital adoption<\/a>\u2014the seamless integration and full utilization of new technology\u2014is fundamental for streamlining that transformation and ensuring employees can stay both creative and agile.<\/p>\n\n\n\n<p><strong>Become a digital-first organization.<\/strong> Digitally-mature organizations have fared the best throughout the pandemic. Since the years to come will bring even more uncertainty and change, it is imperative to stay ready not only by adopting new technology, but by integrating it into business strategy.<\/p>\n\n\n\n<p>Technology-driven innovation will continue to define the business landscape for years to come. While staying agile is a prerequisite for business resilience, so too is innovation, especially for those businesses that want to become <a href=\"https:\/\/www.walkme.com\/blog\/digital-adoption-leads-to-digital-leadership\/\" target=\"_blank\" rel=\"noreferrer noopener\">digital leaders<\/a> in their space.<\/p>\n\n\n\n<a href=\"javascript:;\" class=\"popup-threefields m-element-hidden j-initiator j-paid_post_feature\" id=\"imgpng\" form-type-id=\"imgpng\"><img decoding=\"async\" class=\"initiator-image\" src=\"https:\/\/www.walkme.com\/blog\/wp-content\/uploads\/sites\/2\/2023\/04\/Data-integrity-A_16643bf1.png\"\/><\/a>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"Building a resilient business can help your organization thrive during unforeseen disruptions, but not all interferences are unpredictable. Getting ahead<span class=\"moretag\">&#8230;<\/span>","protected":false},"author":246,"featured_media":11602,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"mobile_image_id":0,"tablet_image_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[359,89],"tags":[594,583,595,110,198,543,551],"class_list":["post-11601","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-change-management","category-digital-transformation","tag-agility","tag-digital-innovation","tag-digital-maturity","tag-digital-transformation","tag-innovation","tag-organizational-agility","tag-organizational-resilience"],"acf":{"__coauthors":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Why a Resilient Business Depends on Both Agility and Innovation<\/title>\n<meta name=\"description\" content=\"The modern economy is defined by uncertainty. 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