CONCURRENT PRODUCT DEVELOPMENT FOR FAST-TRACK CORPORATIONS

Fast- Track corporations take strategic initiatives in responding quickly even to weak signals from their external environments. Implementation of this strategic intent demands an effective mobilization of the organization's internal resources and configuration. This paper begins by discussing the evolving micro-economic relationship between producers and consumers of goods and services in globalized economy, and explores the origins of organizations' product development programmes. Then classical and current approaches to product development are reviewed with respect to understanding the anatomy of a concurrent approach. Three different modes of integration, with stress on hardware, humanware and software, are discussed. A portfolio of alternative routes to achieving concurrence is proposed.