Why we need to understand innovation speed?

Norbert Bol


Innovation is important in the entrepreneurial strategy processes to increase organizational performance. Innovation speed is essential to this performance as well, because when we define a new product or service there is a need to make it available to custumers fast to achieve first-mover advantages. In the February 2016 edition of the Journal of Business Research, Shan et al. (2016) also find in their research that higher innovation speed leads to superior performance.

To increase innovation speed it is necessary to understand how to create this speed and to achieve a sustainable organizational performance. Being innovative and proactive are important characteristics for an organization that relate to innovation speed. In order to create more speed it is necessary that innovativeness and proactiveness are guided towards specific goals. Both characteristics do not lead to more speed when they are spread over too many unnecessary initiatives. Also risk-taking, a characteristic that is often related positively to innovation speed, only leads…

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