Colonel John Boyd, one of the most brilliant military strategists known to man, created a warfare strategy known as OODA loops (OODA stands for Observe, Orient, Decide, and Act). Used in air-to-air combat, his method would be to complete the OODA process faster than the enemy, thus throwing the enemy off balance.
It certainly worked for him, as he never lost a dogfight. Toyota used OODA loops with great success, shortening their cycle time considerably. For project managers, this approach can lead to quicker decisions, and in some cases bold innovations. Best of all, it can foster greater situational awareness.
For a great essay on OODA loops and how they really apply to business, see Robert Paterson's Radio Weblog.
Also, see MindSim.com's site for Boyd's original briefing slides, and, for a brief overview of Boyd and his principles, see ValueBased Management's site.