Individual Understanding and Importance of Business Agility in the 21st Century

Abstract

Objective: In an era of rapid technological development, unpredictable global events and ever-changing customer expectations, new competences have become more valuable for economic operators. Those who can adapt best to change are those who can be flexible, changeable and fast at the same time. These can be collectively referred to as agility and its economic counterpart as business agility. Business agility is not just a buzzword, it is a fundamental change in the way organisations operate and respond to the dynamic challenges of the modern marketplace. The pace of change has accelerated exponentially, driven by technological breakthroughs, market disruptions and unforeseen global events such as the COVID-19 pandemic or international war conflicts. Businesses must adapt to change and have the flexibility to adapt their strategies, products and services accordingly. Moreover, competition is no longer confined to traditional industry boundaries. New players can appear on the market overnight and can pose very significant risks to any business. The ability to adapt, innovate and react quickly to changing circumstances is a core competence that can determine the survival and prosperity of a company. The paper focuses on the understanding and importance of business agility.   Method: The paper aims to introduce the subject under study through a secondary research based on a literature review. Following the secondary research, the results of the questionnaire survey will be presented. The questionnaire assessed aspects of agility and agile operations along closed, scaled questions. The results were analysed using descriptive statistics and analysis of variance.   Results and conclusion: In this study we wanted to present an individual interpretation of agility. We were interested in the extent to which previous participation in economic and agile education influences the perception of agile criteria. The four cardinal domain statements presented in the survey and the impact of agility on them are not yet adequately assessed by the respondents. Due to the novelty of agility and misconceptions about it, it is not yet possible to clearly demonstrate the positive impact of this approach in Hungary, which is something that needs to change in the future.   Research implications: The study can provide a good basis for understanding individual interpretations of agility. The results show that the concept itself is not yet embedded in everyday business thinking, which means that important steps are still to be taken, at least in the case of Hungary. Complex programmes to broaden our understanding would be important and necessary, challenging future education and providing a good basis for further research.   Originality/value: The originality of the research lies in the fact that there have been no comprehensive studies and research on agility, on the human side of agile thinking. In this field, the study aims to serve as a thought-provoking tool, establishing the importance of the topic and the need for further research, which is particularly relevant for organisations and individuals in the rapidly changing and challenging world of the 21st century.