Most companies use cross-functional teams or stage-gate systems to oversee new product development. Cross-functional teams bring together different departments to collaboratively develop and launch new products. Stage-gate systems divide the process into stages with checkpoints, acting like a funnel to narrow an initial pool of ideas down to a smaller number of high-potential products that are launched.

1. -Divyanshu Pal Nagar, IITK

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

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

4. 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.

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

6. 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.

7. 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.