The need for speed

Assesses how the pace of technology has an effect on our lives – even more so as nowadays technological advancement has exponentially expanded. Looks at how agile companies can make advantages over their competitors in the speed of response to events, such as how the Northwestern Insurance group res...

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Bibliographic Details
Published in:The Journal of business strategy 2003-02, Vol.24 (1), p.29-33
Main Author: Gandossy, Robert
Format: Article
Language:English
Online Access:Get full text
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Summary:Assesses how the pace of technology has an effect on our lives – even more so as nowadays technological advancement has exponentially expanded. Looks at how agile companies can make advantages over their competitors in the speed of response to events, such as how the Northwestern Insurance group responded to the New York terrorist attacks of 9/11. They processed 157 claims in 5 days when usual death claim is 30 days for each! Stresses five characteristics, which are basic for fast and agile organizations, these are: clear purpose; engaging climate; small unit accountability; outside‐in focus; and collective will.
ISSN:0275-6668
DOI:10.1108/02756660310508245