Contributed by MIT Sloan Senior Lecturer Steve Spear. Spear teaches in Creating High Velocity Organizations and is author of The High Velocity Edge: How Market Leaders Leverage Operational Excellence to Beat the Competition.
Certain organizations "punch above their weight," generating far more value (that accrues to everybody, not just customers or just shareholders, etc.), faster, and more easily. This despite them having access to the same technical, financial, and human resources as all their counterparts--and thereby enjoying the same advantages and suffering the same constraints.1
This becomes a wickedly important differentiator: Either because of having to get more yield out of exactly the same resources available to everyone, or because of having to be on the cutting edge of bringing high value-add products and services to market ahead of rivals.
The difference? They know much better what to do and how to do it, so operate on a frontier of speed, timeliness, efficiency, effectiveness, safety, security, and so forth others barely perceive. As with all knowledge, the source of their profound knowledge is accelerated learning, and that accelerated learning is the consequence of garnering feedback out of experiences across the spectrum of operational, design, and developmental and using that to feed forward into the next cycle of experiences.