Speed

This post is an early draft of a chapter in my book,  Monolithic Transformation.

From John Mitchell:

Speed is the currency of business today and speed is the common attribute that differentiates companies and industries going forward. Anywhere there is lack of speed, there is massive business vulnerability:

● Speed to deliver a product or service to customers.

● Speed to perform maintenance on critical path equipment.

● Speed to bring new products and services to market.

● Speed to grow new businesses.

● Speed to evaluate and incubate new ideas.

● Speed to learn from failures.

● Speed to identify and understand customers.

● Speed to recognize and fix defects.

● Speed to recognize and replace business models that are remnants of the past.

● Speed to experiment and bring about new business models.

● Speed to learn, experiment, and leverage new technologies.

● Speed to solve customer problems and prevent reoccurrence.

● Speed to communicate with customers and restore outages.

● Speed of our website and mobile app.

● Speed of our back-office systems.

● Speed of answering a customer’s call.

● Speed to engage and collaborate within and across teams.

● Speed to effectively hire and onboard.

● Speed to deal with human or system performance problems.

● Speed to recognize and remove constructs from the past that are no longer effective.

● Speed to know what to do.

● Speed to get work done.

Continuous innovation only works with an enterprise that embraces speed and the data required to measure it. By creating conditions for continuous innovation, we must bring about speed. While this is hard, it has a special quality that makes the job a little easier. Through data, speed is easy to measure.

Innovation, on the other hand, can be extremely difficult to measure. For example, was that great quarterly revenue result from innovation or market factors? Was that product a one hit wonder or result of innovation? How many failures do we accept before producing a hit? These questions are not answerable. But we can always capture speed and measure effects of new actions. For example, we can set compliance expectations on speed and measure those results.

Speed is not only the key measurement, it becomes a driver for disruptive innovation. Business disruption has frequently arisen from startups and new technologies, not seeking optimization, but rather discovering creative ways to rethink problems to address speed. Uber is about speed. Mobile is about speed. IoT is about speed. Google is about speed. Drones are about speed. AirBnB is about speed. Amazon is about speed. Netflix is about speed. Blockchain is about speed. Artificial Intelligence is about speed.

Continuous Innovation then is the result of an enterprise, driven by speed, which is constantly collecting data, developing and evaluating ideas, experimenting and learning, and through creativity and advancing technologies, is constructing new things to address ever evolving customer needs.

This post is an early draft of a chapter in my book,  Monolithic Transformation.

Power-line picture from Claudiu Sergiu Danaila.

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