 (2010) found that researchers and managers often focus on the rate or speed of change only, treating velocity as a single, latent aspect of the environment, characterized simply as being “high” or “low”.However, the original definition of environmental velocity (Eisenhardt and Bourgeois 1988) defines and describes it as a vector quality, composed of both rate and direction of change across multiple dimensions (e.g., regulations, demand, product, technology, and competition).McCarthy et al.