Fast organizations are more successful than slow ones, especially in the current digital age. Higher demands are being made on all fronts: responding to Twitter within 30 minutes, delivery times of one hour or the launch of a new e-commerce platform in six months. In 2014, improving organizational speed, or speed commerce, is high on the agenda in many companies. What can you learn as an entrepreneur from fast organizations?
Organizational speed is the ability of an organization to respond quickly to changes, seize opportunities, adopt new technologies, make fast accurate decisions and learn quickly. In a highly competitive environment with rapidly paraguay mobile phone number list changing market conditions, it is one of the most important characteristics of an organization to survive. Speed is rewarded by customers with higher margins, more attention and a larger market share. Moreover, if organizational speed is embedded in the capillaries of the organization, it provides a defensible competitive advantage.
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Tweet from Oreo during the Super Bowl.
Organizational speed in 2014
The perception of speed changes over time. What was fast in the previous century is now experienced as excruciatingly slow. A newspaper advertisement that originally linked to a recent event generated a lot of media attention a few years ago. In the age of social media, a response time of 24 hours is simply too slow to be noticed.