Velocity is the only innovation outcome that matters

The ever-increasing pace of change demands that firms address the barriers to velocity within their businesses. This means innovating their product development cycles and investing in true innovation capabilities. Innovation creates new, meaningful products and services that increase a firm's speed and potentially its velocity. Executives play an important role by creating clear strategies based on the understanding of the importance of velocity. While speed is important, velocity - increasing internal speed in important, strategic directions - is crucial. In subsequent posts, the idea of innovation as a catalyst for corporate velocity will be addressed.