Speed vs Velocity

Is Velocity more effective than Speed?

Many organisations use matrix structures, but face common challenges such as communication gaps between strategic functions, prioritisation issues, and KPI alignment. Understanding the difference between speed and velocity can help address these issues. While speed is important for organisations, it may not necessarily lead to achieving overall goals or the organisation's vision. Long-term goals are just as important as short-term goals.

Velocity, on the other hand, is speed with direction. The key difference is that velocity has direction, with all teams working towards a common goal and vision.

For CXOs and business leaders, one of the most critical tasks is to share their vision and direction for the organisation and prioritise short and long-term goals based on that vision. This leads to functional leaders working more closely with their peers, understanding market needs, and innovating for future growth.