The agile business model is one of the most popular models of today’s time. Some people believe that it is the key to all future success. But is it worth the hype? Should you spend a lot of money, time, and resources on it? Read on to know an unbiased opinion on does the agile business model really works.
The Principles
The Agile Manifesto was developed in 2001,
and it has some principles. Mentioning them all is not possible, but usually,
they include the following:
·
Focusing on people, not just
the processes.
·
Embedding customers and their
feedback to ensure continuous improvement.
·
Ensure that people and teams
focus on one project at a time.
·
Deconstruct the work into small
segments to ensure availability of quick feedback and assure nimble
corrections.
·
Experiment continually and
learn constantly.
·
Make sure there is transparency
in the work and team continuity.
Why Agile Business Model is Worth It?
The agile model is worth the time, effort,
and money because it can help improve the performance of the organization and
individuals. In a study that was published in the Journal of Operations
Management, it was stated that agile methodologies contributed to operational
performance. It then helped in the marketing and financial performance of an
organization. In additional research, it was unveiled that 54% of people
reported scrum led to better satisfaction and deliverables.
Implementation Matters
To achieve this level of success, the organization
must do it right. Research conducted across 160,000 projects and 50,000 agile
teams revealed that when team members were 95% dedicated, the productivity
doubled as compared to teams that were 50% dedicated. In addition, responsiveness,
predictability, and quality also improved with more dedication of the team
members.
When the teams kept on following the agile
business model, they were able to focus on the work and not on selecting,
orienting, training, or acculturating new members. This helped in further
enhancing productivity, predictability, and responsiveness.
It is also vital to keep the sprints short.
When the sprints are longer (three or four weeks) and not shorter (about two
weeks), it might not help as much with more predictability, productivity, and
responsiveness as it did when the sprints were shorter.
The performance payback is also higher when
agile is applied to all disciplines across the company and not just one or a
few disciplines. It’s because when agile is an organizational decision, it
fosters greater support in terms of education, training, and system-wide
changes, which foster and embed new work methods.
Why Agile Business Model Works?
When teams work effectively, they share a
lot of information. It further contributes to mental models and helping
behaviors. Fast information flow plays a key role in developing common ways of
understanding. It also helps team members be more aware of each other’s needs
and be there for each other. This focus on people helps in improving the quality
of life and morale of the employees.
All in all, it can be said that adopting
and implementing an agile business model is not easy as it seems. However, if
you do it right, you will get the results that will make all the efforts worthwhile!
Want to know more? Read these useful FAQs on
Agile.
Also, you might want to get inspiration
from 10
companies that are killing it at scaling agile
-by Shruti , CNS Canadian News Source
Source:
https://www.forbes.com/sites/tracybrower/2019/10/06/is-agile-really-worth-it-evidence-says-yes-if-you-do-these-4-things/?sh=7d50d09e5488