Final answer:
Eric's collaboration with a diverse group of colleagues to design a new product is an example of a Cross-Functional Team, which is common in modern workplaces to encourage innovation and utilize diverse expertise.
Step-by-step explanation:
The situation described with Eric, an engineer, now working with production workers and marketing specialists from different departments to design a new product is referred to as a Cross-Functional Team. These teams are part of a strategic approach in modern workplaces to leverage diverse skills, experiences, and expertise for complex project requirements, like the design and development of a new product. The concept of cross-functional teams aligns with the current trend of flattening organizational structures, promoting teamwork across different specializations, and driving innovation in product development.