Final answer:
The answer is team-based new-product development. This approach involves cross-functional teams working together to develop and launch new products, promoting faster product development and market entry.
Step-by-step explanation:
The answer to the question is team-based new-product development (option C).
Team-based new product development is a faster, team-oriented approach that many companies are adopting to bring their new products to market more quickly. In this approach, cross-functional teams work together to develop and launch new products. This method promotes collaboration and coordination across the organization, leading to faster product development and market entry.
For example, instead of following a traditional sequential process where each step follows the previous one in direct sequence, team-based new product development allows for an iterative design process. This means that as designs are developed, prototyped, and evaluated, their strengths and weaknesses are better understood, leading to modifications and improvements in the design. This iterative process helps companies to identify and address any issues or improvements needed in their new products, resulting in faster time-to-market.