Is Your Company Up To Speed?

5. Do you embrace the value of values?

Today, more than ever, customers don't just ask, What products do you make? They also ask, What values do you stand for? The company with the clearest sense of purpose wins.

That's why Whole Foods Market logs head-spinning growth in the supermarket business. The company's fierce commitment to its fresh, nutritious products keeps its customers believing and its employees working hard. Starbucks Coffee is another case in point. At the heart of its success is not just premium coffee or fashionable outlets; it's a worldview -- the allure of an affordable luxury -- that connects with customers and attracts a certain kind of employee.

6. Are you as disciplined as you are creative?

Creating long-run value means delivering short-run results -- every quarter, every week. There is no contradiction between creativity and execution. Indeed, the most innovative companies tend to be the most disciplined when it comes to making their numbers.

What's so noteworthy about such business game changers as Cisco Systems, FedEx, and Wal-Mart is how seamlessly they combine cutting-edge strategies with real-time information -- and metrics that let senior executives (and in-the-trenches managers) know how well the company is doing at any moment in time. Fast companies understand that what gets measured really does get attention -- so they pay attention to what they measure.

7. Are you winning the battle for talent?

You can't keep your customers happy if your organization is filled with people who are unhappy (or untalented). And if you want to fill your company with great ideas (see question 2), then you have to fill it with smart people. Fast companies recognize both of these principles, which is why they treat the human element in business -- whom they hire, whom they promote, how they keep everyone motivated -- just as seriously, just as creatively, just as rigorously as they treat finance, R&D, or marketing.

That's one reason why Southwest Airlines consistently outperforms its bitter rivals: The company is without peer when it comes to the science of effective motivation and savvy hiring. SEI Investments, a fabulously successful player in an entirely different business, has organized itself around a team-based, fast-flowing, ever-changing workplace that makes it remarkably productive.

These and other companies understand that the best way to win battles in the product market or the financial markets is first to win the battle in the talent market.

8. Do you use technology to change expectations and reshape your business?

Most companies have lost their zeal for tech-driven transformation. But fast companies keep the faith. They believe that the Internet remains the most powerful laboratory for business experimentation ever. It transforms how people work together, how companies interact with customers, and the economics of entire industries. There is nothing more disruptive today than an original strategic insight fueled by a savvy application of computers and communication.

That's the breakthrough formula behind the miraculous growth of eBay. The insight: the natural desire for "person to person" commerce, made effortless by the Internet. It's also the formula behind the explosive growth of the Apollo Group and its Web-enabled University of Phoenix. The insight: an explosive demand for lifelong learning, especially among busy people. Meanwhile, Cemex has leveraged the revolution in high-speed communications to create a whole new approach to delivering cement to construction sites -- using cutting-edge technology to reshape an old-line business.

9. Are you built for speed?

Being fast doesn't mean being reckless. But fast companies do understand the cost of hesitation and delay -- whether it's responding to a customer complaint or launching a new product. Successful companies know that time is as valuable a resource as money or head count.

A commitment to speed explains the success of Progressive, a fast company in an industry that's undeniably slow: insurance. The company boasts that it settles auto-insurance claims before competitors know that there's been an accident. Electronic Arts, a true superpower of the games industry, is one other company that is serious about time -- in its own case, making sure that its programming teams meet demanding deadlines even as they pursue breakthrough creativity. One key resource: an intranet library that lets developers share best practices and technologies with one another across the company. By working smarter, everyone works faster.