Practices that support team learning and their impact on speed to market and new product success

Competition is fierce today. Businesses are feeling extreme pressure to innovate and do so quickly. If they take too long in bringing a product to market or make a mistake along the way, they can be preempted by a faster moving competitor. One technique gaining popularity to help companies compete is establishing learning teams—teams that create and use knowledge rapidly and effectively. But how do teams learn? By studying the learning practices of 95 new product teams, we have uncovered several factors that improve a new product team's ability to learn, innovate faster, and be more successful. These factors include thoroughly reviewing project information, having stable project goals, and following a rigorous new product development process.