According to the latest Boston Consulting Group Survey on Innovation:

http://www.bcg.com/impact_expertise/publications/files/BCG_Innovation_2009_Apr_2009.pdf

The two biggest barriers to innovation identified by leaders around the world are:

1. A risk-adverse culture and

2. Lengthy Development Times

Yet as they note, one of the least popular metrics remains time to market (used in 19% of organizations). If the old saying, what gets measured gets done, then speed to market will be an ongoing obstacle for most organizations in the future.

This seems strange to me. Most leaders are aware that the market-place is changing rapidly and consumers have an increasing expectation of speed of service yet speed to market is not on their radar. Also most leaders know that staying ahead of your competition is a sure way to grow revenues so why the reluctance.

Perhaps the penny has not dropped yet. Speed is a major differentiator in the market-place today. Speed is an organizational wide capability. And speed can be improved upon with the right training, tools and culture but it requires a letting go of the old slow and steady as she goes.

Organizations today have to be built around speed. Speed wins every time.

The leader that can think faster than his/her competition will dominate. Long live Speed Thinking.

Ken Hudson