Research giant Gartner recently concluded its annual survey of top IT professionals for the year 2021. According to the findings of this survey, compose-able business is a need of the hour for enterprises across the board.
Covid-19 was neither the first, nor the last disruption that businesses are expected to face. The way forward is learning important lessons from this global crisis, and shaping these lessons into decisions that lead to compose able business models and strategies.
The whole idea behind this desired change is enhancing business agility, especially in the wake of crises or disruptions. As such events are nearly impossible to predict, businesses will instead have to develop a strong level of preparedness for disruptive events.
According to this approach, there are three core elements of any well designed compose-able business strategy. These essential ingredients include the mindset, technology and operating capabilities.
In the survey, nearly 63% of the respondents belonging to organizations with higher levels of compose ability cited a better business performance as compared to the other industry players. Perhaps the most crucial element of this concept is the right mindset.
Enterprises first need to develop the right mindset, at every tier of the organization. When adopting business compose ability, an organization needs to highlight the mid to long term growth potential of this shift, creating better acceptability for such a change.
Once the right mindset has been put into place, the next major element is adopting the right set of agile technologies that make business compose-ability an actual reality. Cloud Computing is one of those agile technologies that lead to compose able businesses.
Developing the right set of operating capabilities is the granular, yet very important component of achieving this goal. The right level of operating capabilities are achieved by designing business processes in a modular way.
By modulating business processes, an enterprise is firstly able to scale its operations really quickly and uniformly. The other core benefit of this modulation is that many sub-processes can be used or implemented interchangeably at different areas of the organization.
Now, we are transitioning from flexibility to compose-ability in businesses. This in turn will give organizations the ideal level of agility to respond to changing business environments, and disruptive events such as a global pandemic.