Abstract

In this chapter, we explore the nature of a new factor named ‘time-bound formalization’ (TBF) in building flexibility into product development (PD) teams. This new factor was derived from the study of 108 PD teams in public and private sector organizations. Conceptually, TBF appears to be a subset of formalization, with a focus on procedures that are associated with a time bound. We observed that TBF plays a vital role in facilitating team flexibility. In the case of large teams, it helps in balancing team flexibility and team performance. A deeper understanding of TBF can provide clues for formulating better PD practices to promote team flexibility.

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