Presents a revolutionary view of product development: more R&D and faster product cycles are not necessarily better. Makes the case that business R&D has come to resemble a military arms race where all other values, including the long-term health of the enterprise itself, are sacrificed. Shows that rapid development cycles often drive products away from customer needs, and even risk the long-term survival of the business. Presents cases where customers cannot accept innovation at the rate it is being delivered. Describes how to escape the "acceleration trap" and evaluate R&D more critically. Strategic planners, R&D managers, senior corporate executives, consultants, business school faculty and students.