They are companies like Starbucks, opening 300 stores per year, or Disney, with its never-ending rollout of new films, theme park rides, retail stores, clubs and restaurants. New economy companies say forget about command and control, titles and hierarchies. There's not time for those things. This is the stuff that has hardened the arteries of old economy smokestack companies. High-velocity companies don't rely much on bosses and chain of command.
Hierarchies delay decisions.
These companies need employees who can operate with few rules, who can make good decisions on their own. Consultants call it cascading leadership. Think back to those factors that drive employee commitment. You can see how the values of new economy companies meet these needs and why employees in these organizations are willing to work those 80-hour Silicon Valley workweeks. You find few of the old economy smokestack manufacturing companies in Fortune's most recent 100 Best Companies to Work for in America .