Today is the era of fast-paced world and competitive world. Companies are realizing that the old sequential approach to developing new products won’t get the job done and product can’t be reached to market when compared to competitors. The 4 stages of product development are as follows – R&D, Growth, Maturation, and Decline. Instead of sequential approach, companies are using holistic approach – as in rugby game, the ball gets passed within the team as it moves as a unit up the field. This holistic approach has six characteristics: 1) Build-in-instability 2) Self-organizing project teams 3) Overlapping development phases 4) Multi-learning 5) Subtle (very clear and strong) control 6) Organizational change to explore and learning The above six characteristics forming a fast and flexible process for new product development with advantage of act as a change agent, creative, market driven ideas, flexible organization. Many companies accepted importance of h
We will either find a way, or make one.