 Eisenhardt & Bourgeois (1988) proposed the concept of environmental velocity when studying strategic decision making in the micro-computer industry.They argued that this particular industry could be characterized as having a high-velocity environment, because it exhibited rapid and discontinuous change in demand, competition, technology and regulations.In a number of subsequent studies, it has been determined that success in high-velocity environments is related to fast, formal strategic decision-making processes and the use of heuristic reasoning processes.