Innovation Speed: A Conceptual Model of Context, Antecedents, and Outcomes

Abstract

There is a growing recognition that innovation speed is important to a firm's creating and sustaining competitive advantage amidst rapidly changing business environments. However, there has been little theoretical advancement or model building regarding when innovation speed is appropriate, what factors speed up innovations, and how differences in speed affect project outcomes. In this article, we organize and integrate the innovation speed literature, develop a conceptual framework of innovation speed, and offer researchable propositions relating to the need for and antecedents and outcomes of innovation speed. Specifically, we argue that innovation speed (a) is most appropriate in environments characterized by competitive intensity, technological and market dynamism, and low regulatory restrictiveness; (b) can be positively or negatively affected by strategic-orientation factors and organizational-capability factors; and (c) has an influence on development costs, product quality, and ultimately project ...