Because speed has become a major competitive factor,firms may accelerate product development through:

Question

Quizplus · Accepted Answer

The use of cross-functional teams is a popular approach for accelerating product development because it brings together members from multiple functional departments who have different expertise and perspectives, and allows for faster decision-making and problem-solving. Other options such as changes in the firm's mission or competitive strategy may take longer to implement and may not necessarily directly accelerate product development. The use of additional functional departments may also not necessarily lead to faster product development if there is not a coordinated effort among the departments.

Because Speed Has Become a Major Competitive Factor,firms May Accelerate