Introduction

Abstract

Yes, we are living in a fast-moving time. Our prevailing Zeitgeist demands speed and ongoing acceleration which has become the maxim in many fields of business as well as every-day life. Time-based competition is only but one facet of this general acceleration trend and embedded therein lies the problem examined in this doctoral dissertation: the ongoing reduction of product innovation cycles. In many industries, more and more new — often only incrementally modified — products are introduced within increasingly shorter time intervals. The resulting paradox of this behaviour on the part of company decision-makers is that many firms make their own goods obsolete within increasingly shorter periods of time. In many cases, product life cycles have been cut to one third or even one fourth over the past 30 years (Little 1991b).

“Faster, faster, faster! We’ re in a world that is obsessed with speed. ‘Time’ has won the race to become our most valued resource — from the food we eat, whether it comes from a fast food restaurant or a microwave oven, to computers, airplanes and automobiles, pharmaceuticals, and even to written information. No longer is ordinary mail sufficient, we have electronic mail. But why waste time typing. Just do it on a piece of paper and ‘FAX’ it. Today, speed is everything.” (Vesey 1991)