Consider the effects of the traditional formal communication approach in a tall hierarchy...
A tall hierarchy with formal decision points creates too much delay to keep pace...
A venture capital participant described their communication as follows:
Most of our communication internally within the fund management team is fast and informal (email, drop ins in offices and round the ‘water cooler’ discussions, face-to-face meetings called at short notice). Also, most communication with our portfolio companies and investees is fast and informal exchanged between the various team members to adjust to the myriad of rapid changes. (Ventcap1).
Make communications FREQUENT. Don't wait for a fixed formal meeting, but don't skip the formal meeting either, as they are an important catch-all for items missed during informal discussions.
Use a flat structure for rapid communication, like IBM did when they created the PC in 12 months, or Google does all the time for that matter.
Collyer, S., Warren, C., Hemsley, B., & Stevens, C. (2010). Aim Fire Aim - Project Planning Styles in Dynamic Environments, Project Management Journal, 41(4), 108-121.
Collyer, S., & Warren, C. M. J. (2009). Project Management Approaches for Dynamic Environments, International Journal of Project Management, 27(4), 355-364