’Business at the speed of light’ – the role of time and speed on business strategy

Abstract

The article focuses on the importance of the dimension of time and speed in the world of competitive strategy. In today’s global village, businesses struggle with competitors in the industry to achieve sustainable competitive advantages through the creation of economies of scale and/or economies of scope but also to achieve economy of time. In some industries this is one of the key success points for leadership in the competition. The article describes the trends in the area of the impact of time and speed on the world of strategy and presents the main parameters that influence the speed of the implementation of the strategic processes by companies.