When a company wants to introduce a new product into the market, it has to start its new product development process. The new product development process can be of three types. These three types are customer-centered, team-based and systematic new product development. One good point about the team based new product development over the systematic new product development is that it may develop the new product in a short period of time. The systematic new product development process may take more time which may harm the product's position in the market. Two good examples are Boeing and Airbus. Both these companies' planes finally took to the air more than two years late and far over budget. Moreover, both were developed in unnecessarily complicated ways, even though big aviation projects are difficult enough without taking on further risks. Guys, check out this article about both these companies and do give feedback.
http://www.economist.com/businessfinance/displayStory.cfm?story_id=15127526
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