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Monday, March 20, 2006

Speed & Business Success

In Blur, the speed of change, Stan Davis & Christopher Myer wrote about the three factors in the wired world-speed, connectivity, and intangibles, that are driving the increasing rate of change in the business marketplace. They predicted that blur should be embraced because it will only increase over a period of time. Its not without reason that Bill Gates talked about business@speed of thought some years back.
Businessweek writes , speed is emerging as the ultimate competitive weapon. Some of the world's most successful companies are proving to be expert at spotting new opportunities, marshaling their forces, and bringing to market new products or services in a flash
. That goes for launching whole new ventures, too. In many realms, the time it takes to bring a product to market has been cut in half during the past three or four years.It's all being driven by a new innovation imperative. Competition is more intense than ever because of the rise of the Asian powerhouses and the spread of disruptive new Internet technologies and business models. Companies realize that all of their attention to efficiency in the past half-decade was fine - but it's not nearly enough. If they are to thrive in this hypercompetitive environment, they must innovate more and faster.
Not everything needs to be fast
. Seth Godin writes that decay can be slow. He writes most businesses, don't fail dramatically.They do it slowly. Organizations fail slowly. They often succeed fast, though. That’s where the remarkable comes in. So, if I had to summarize it: You take a big step up by being bold. But you avoid a slow death by getting every little thing right. My take : slow or fast battle is clearly getting settled in favour of speed but speed alone wont ensure success -it’s the business model and the strength of management that matters in the long term.

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