The definition of high-velocity environments articulated by Bourgeois and Eisenhardt (1988) captured these two attributes, referring to rapid and discontinuous change in multiple dimensions of the environment, such as demand, competitors, technology, and regulation. The notion of high velocity provided an evocative way to characterize the fast-moving, high-technology industry that was the context of their studies, and it complemented a number of similar but conceptually distinct environmental constructs, including dynamism (Baum & Wally, 2003; Dess & Beard, 1984; Lawrence & Lorsch, 1967), turbulence (Emery & Trist, 1965; Terreberry, 1968), and hyperturbulence (McCann & Selsky, 1984). More recently, environmental velocity has been used in conjunction with or as a synonym for other related environmental constructs, such as “clockspeed” (i.e., the speed of change in an industry; Fine, 1998; Nadkarni & Narayanan, 2007a,b) and hypercompetition (Bogner & Barr, 2000; D’Aveni, 1994).

Ian McCarthy et al, A Multidimensional Conceptualization of Environmental Velocity (2010)

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