Learning Objectives Chapter 10

7.) Summarize approaches to shortening the time required for developing new products.

• Using Teamwork - The ability to handle functions simultaneously is a major benefit of teamwork.
  
  
• Delegating Authority - An organization that can move quickly is typically one in which decision-making power is delegated.
  
  
• Building on Specialized Knowledge - The organization seeks to master knowledge of a particular technology, a market segment, and its own strengths and weaknesses. An organization would also attempt to build relationships with suppliers and other outside organizations.