-Divyanshu Pal Nagar, IITK

2.What organizational structures and processes do managers use toOversee new-product development ?

Companies handle the organizational aspect of new-product development in several ways

1.CROSS-FUNCTIONAL TEAMS

Most progressive companies have assigned new-product development to venture teams, Cross functional groups charged with developing a specific product or business.

Cross-functional teams can collaborate and use concurrent new-product development To push products to market

2.STAGE-GATE Systems:

Many top companies use the stage-gate system to divide the innovation process into stages, With a gate or checkpoint at the end of each.

This process is like a funnel: a large number of initial new-product ideas and concepts are winnowed down to a few high-potential products that are ultimately launched.