Too much adherence to processes can only be done in companies with unlimited money & time to kill. Take the example of the recent case of a person leaving Google because of weeklong meetings on which of the 48 shades of blue to choose.
In startup companies on the other hand, because of the lack of time, people usually follow no processes leading to disaster. In today's world where there is a lack of time, it is essential to me able to come to market quickly otherwise you lose your advantage. See the case of Microsoft and Vista. It took more time & had a lousy reception even after it arrived.
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