Customer Reviews

It's Not the Big That Eat the Small...It's the Fast That Eat the Slow: How to Use Speed as a Competitive Tool in Business

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3 star:		(2)
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1 star:		(4)

 

 

This book is the best one I have read to date on helping a company accelerate its ability to move ahead of the competition by being better at sensing the environment and reacting to it. Those who are interested in checking their organizations for stalled thinking in this regard will find a useful list of areas to investigate and improve.

"Do more with less and do it faster." That's the mantra that the authors have investigated through their case histories of Charles Schwab, Clear Channel Communications, America On Line, H&M (clothing stores), Hotmail, Telepizza (European home delivery pizza chain), and Lend Lease (Australian company).

The book is organized into four sections: Fast thinking; fast decisions; get to market faster; and sustaining speed. Each one contains a number of key points, with subpoint details to further elaborate.

Here's how Fast Thinking is organized:

"Speed . . . without a destination in mind, is haste." The focus of this section is on creating improvements in your business model or new business models.

The key sections under the heading are to anticipate; spot trends; put ideas through a thorough testing process to probe for their downside weaknesses; and being sure that the best idea wins by changing the company environment. Each of these sections is illustrated with examples from the companies that were studied and more detail on the key elements.

In this example, you should see the potential weakness of the book. It correctly points you toward spotting trends, but cannot possibly teach you what you need to know in just a few pages. So you will want to expand on the points here by reading other books that deal with these areas in more depth. In essence, the book then is an outline of the business processes you need for innovation in business models, choosing the right ones, getting them implemented well, and staying agile.

The primary metaphor is to Wayne Gretzky, who was famous for his ability to anticipate where the puck would go next . . . and to aim for that spot. If you can determine what is "likely to occur in the next few months and the next few years [that] is enough to give you an edge . . . ."

While I have not studied all of these companies, what was said about the ones that I know well was certain accurate and full of insight. I assume the rest was done equally as well. Many of the conclusions are similar to my own work on irresistible forces.

Of the four sections, I thought that the first section on fast thinking had the most original material, and will be the most valuable for many companies. If you have problems with fast decisions and getting to market fast, you may find it hard to change very quickly. But if you are already in pretty good there, the first section can increase the flow of good new ideas for you to consider. Many CEOs tell me that this is a limitation for them.

I do have some concerns. If everyone organizes for speed, how sustainable will that be? Perhaps it would be better to organize to grasp advantages that then become unavailable to others.

Also, what is it going to be like to work for a company like this? What is your family life going to be like? For readers who are interested in these questions, I suggest you read Professor Robert Reich's new book, The Future of Success. It has many thought-provoking ideas on this subject.

After you have organized for maximum speed that makes sense for your business and the personal lives of those involved, I suggest that you consider how the experience can be made much less demanding on everyone. That's the area where the most innovation is needed.

May you make rapid progress towards worthwhile goals . . . and have time to smell the roses along the way!

A comprehensive,factual and entertaining roadmap for all smart business men and women to speedily navigate the inner city battleground that is the competitive marketplace of today.

Jason Jennings and Laurence Haughton's concise and practical account of leadership strategy, and numerous tactics, show how being fast creates a unique and compelling point of difference.

What's more their advice and observations work!

Over the past ten years I've enjoyed a close professional relationship with Jason Jennings and his consultancy, in two large global media organisations.

Firstly, I witnessed the transition from a hemorrhaging State run bureaucracy, to a fast, efficient, customer focused company, that when privatized, became a prized acquisition and cash cow.

Secondly, Jason's teaching, strategic analysis and operational skills prevented the real threat of bankruptcy, and in just two years, the business units were producing record revenue and over 40% EBIT. An incredible turnaround, proving that the fast do eat the slow, and in the process gain the economic benefits.

A great read,and essential reference for those serious about leading their organizations successfully and consistently in the 21st century.

This is the first of two books by Jennings which I have recently read. (The other is Less Is More.) It was written in collaboration with Laurence Haughton. The subtitle reveals their core assertion: "How to Use Speed as a Competitive Tool in Business." Correctly, they stress the importance of using speed to achieve and then sustain a decisive competitive advantage. They also realize that there are times for an organization to be a sprinter but other times to proceed as if in a marathon.

In the Prologue, Jennings and Haughton explain that they "began with a blank canvas. No points to prove, no axes to grind, and no one to impress. We truly wanted to figure this 'speed thing' out and boil it down into easy-to-replicate tactics." They developed criteria for selecting the fastest companies and then focused on them: Charles Schwab, Clear Channel Communications, AOL, H&M, Hotmail, Telepizza, and Lend Lease. The book presents a number of real-life lessons from these high-speed companies and their full-throttle executives. The authors also provide "time-proven instructions on becoming faster than anyone else."

The material is organized within four Parts: Fast Thinking, Fast Decisions, Get to Market Faster, and finally, Sustaining Speed. In their Epilogue, the authors observe that, early on in their research, they discovered that "truly fast companies that have demonstrated the ability to maintain momentum aren't naturally any faster than their slower-moving rivals. But they are smarter." What's the difference? The truly fast companies avoid, "blow up," or get past various "speed bumps," refusing to be delayed or prevented from getting to where they want to be.

As I read this book, I began to think of an organization as a vehicle. As such, what are its requirements? First, a specific and appropriate destination. Next, a capable driver. Then, a sufficiently powerful engine and enough fuel to keep it running. Also, a transmission with different gears (including reverse), shock absorbers, and brakes. Gauges keep the driver fully informed of available fuel, oil pressure, speed, time, etc. Jennings and Haughton discuss "speed bumps" and could have just easily included a discussion of terrain and weather. A number of organizations -- S&Ls 15-20 years ago and dot coms more recently -- have failed because they could not cope with "rough roads" and "foul weather." In several instances, imprudent speed was a factor in their demise. I want to stress this point because Jennings and Haughton do not glorify speed per se. In certain situations, however, speed is the determinant insofar as success and failure are concerned. Rapid response to customers' needs, for example, or to a new business opportunity. To extend the vehicle metaphor, executives also need a multi-gear "transmission" as well as an accelerator and brakes...and the skill to use each as well as the wisdom to know when.

Jennings and Haughton have a Snap! Crackle! and Pop! writing style which is eminently appropriate to the subject. They also have a delightful sense of humor which substantially increases the entertainment value of their work even as they focus on an especially serious subject: business competition in an age and at a time when it has never before been so intense and when prudent speed frequently determines the difference between organizational life or death. This is a brilliant achievement.

Those who share my high regard for this book are urged to check out Jennings' Less Is More as well as Curt Coffman and Gabriel Gonzalez-Molina's Follow This Path.

I think most people understand the importance of "speed" in the marketplace. The problem lies in "how" to incorporate this element into their daily business before they or their companies had been eaten by someone else. I am sorry that the author had not done a good job in this respect. He said a lot about the advantages of being speedy, but not practical methods of pushing it through bureaucracy, redtape, human resistance to change, the long term committment of top management......... Perhaps I had demanded too much from such a small book. However, I really believe the author is capable of giving us more, judged by his smooth and intelligent writing skills and choice of words.

Below please find some copy and paste for your reference.

Speed, merely for the sake of moving fast, without a destination inmind, is haste. Eventually, out of control, speed will land you in big trouble. But imagine how many more races you would win if you had a big head start. Think about the advantage you would have if you knew what the future was going to look like and were able to spot trends before the competition. Consider the power of being able to think about things quickly and accurately, tackling in minutes the same big issues and questions the competition would be processing for weeks. pg 9

Question everything...all the time. If you want to hone your anticipatory skills, accept nothing. Question everything. Ask how and why of everything that's presented to you. pg 19

A fund manager's best year will likely be his or her first. He or she is without a need to defend the previous year's choices and is able to ruthlessly assess the viability and potential performance of holdings in the fund. Dr. Richard Geist, professor of psychiatry at the Harvard Medical School. pg 101

It's not the strongest nor most intelligent of the species that survive; it is the one most adaptable to change. Charles Darwin pg 111

When you refuse to abandon, bad things always seem to happen.

p.s. The main book title is very interesting. I think if the author did add one more word "idiot" in the end, the impact will be even bigger.

This book defines those characteristics that separate "the best" from "the rest." In five case studies, the authors clearly and effectively demonstrate how speed--more than capital, ambition, vision, planning and great thinking--can build and maintain business models that outperform and outlast others.

To be a speed player, you have to know how to spot trends, make decisions quickly and launch a crusade.

Jason and Larry have written the manual on gaining the ultimate competitive edge.

Jason Jennings' and Larry Haughton's background as journalists adds great value to this book. They don't tell you what they think, they tell you what some of the most successful people in the world have told them about the value of moving quickly.

If you're looking for magic dust or other simple solutions you'll be disappointed (but that probably wouldn't be the first time). However, if you can honestly look at yourself in a mirror (be prepared) and are willing to work hard, this book can make a major difference in your business. It already has for me.

On page 24 they tell the story of a banker who put his managers through a 'what if' planning session and how that helped make the bank even more profitable. Based on that lesson, I put my management team through a similar exercise so they could identify changes they could make without a budget ax hanging over their heads. Subsequently, business conditions dictated the need for a major cost reduction and it had to be done within 48 hours. We not only met the deadline, but did so without having to resort to layoffs. Cutting costs is never easy, but this was the smoothest plan I've ever implemented because the managers knew it was their plan, not a corporate mandate.

I've had the benefit of attending their seminars over the last year, and the lessons learned there and in this book have been instrumental in developing a lot of new revenue. Read this book before your competitors make the first move.

There is an old story about the two fellows who went lion hunting in Africa. They searched for days to no avail, then suddenly-right in front of them-was a huge lion!
The lion saw them, too, and thought, "lunch!" One of the men reached into his knapsack, retrieved his running shoes, and began putting them on. His friend, incredulous, mocked, "You'll never outrun that lion." The first man responded, "I don't have to outrun the lion; I just have to outrun you!"

The speed of business has increased, along with the speed of change. Today, and in the years ahead, the prizes will go to the companies that anticipate the trends, then move most quickly and wisely to put themselves in the right place at the right time. Those firms that allow any employee-at any level-to tie them to tradition or to get in the way of progress risk extinction. Given the title, we'd expect to find the secrets in the pages of this book. Readers will find quite a few tips, some great lessons, snappy writing, and valuable summary lists at the end of each chapter. There's a lot of good content here, but also some annoying redundancy.

This well-organized book moves steadily and deliberately through a collection of strategies that stimulate thinking and action. A number of examples are offered to illustrate fast movement and not-fast-enough movement. Many of the anecdotes and case studies come from the same companies, which is both good and bad. We see deeper into these companies, but miss the opportunity to appreciate the strategies and actions of a wider range of organizations. Hearing about the same companies over and over again made me wonder if the authors had investigated any other examples. The sameness got old.

Toward the end of the book, the reader may sense some repetition, as if the authors forgot they had mentioned these things or were looking for filler to complete the manuscript at the end of their writing process. I sensed some redundancy in the main body of the book, but as the manuscript drew to a close I almost lost interest because I was reading words I'd already read.

There's a lot of good content in this volume, so I'll still recommend it. Look for the tips, the advice, and the strategies that will inspire you to make notes, turn down pages, and highlight various sections. While the book wasn't 100% for me, there are a lot of valuable and thought-provoking lessons in these pages. Many of the ideas and observations are sufficiently thought-provoking to stimulate change in the way you do things, particularly if you perceive yourself to be in a competitive environment.

This review refers to the hardcover edition.

Based on many years of strategic consulting, Jennings and Haughton take us through the basic blocking and tackling of making and sustaining business speed. This is not a theoretical B-School analysis or some abstract case-study analysis, but a very practial, hands-on set of "how tos" the authors' have proven throughout their years of working with some of the speediest companies around. Their access to the highest levels of companies like Schwab speaks volumes about their credibility and the value of their content. Though every scenario they describe may not apply to each and every business model, the general ideas they put forth are hugely valuable for any practicing executive. Highly recommended.

This book has been a long time coming. It shows that companies that operate using similiar techniques and market strategies can achieve incredible success, no matter the industry they operate in. If you are a captain of industry...read this book, implement what it says, and profit from it. If not...be very afraid... because your competiton is reading it and is about to pass you by.

This is a great book on entrepreneurship: from small companies to large. The authors distill the experience of fast growing, entrepreneurial companies into a series of rules.

There's lots of ideas to put to use. The business stories that illustrate their points are very interesting.

An example of some of their points are: shuffle people around, tell stories, rank everyone annually, have a cause and a crusade, CEO's must make alot of sales calls and must be 1/2 time evangelical, you invite new hires to be part of the crusade, break your goals into activities and then publicly track results against those activities.

There's lots of details behind those points and many more points. But that should give you an idea of the book. I highly recommend it. It generated lots of ideas which I wrote in the margins of my book.

John Dunbar