Companies that are able to deliver innovative products, and do it rapidly, know how to execute. There's a difference between having a good product idea and being the first to bring it to market. Product development is more than just a design and engineering capability. It is a cross-functional capability. Companies that know how to assemble and manage a high-performance team can leverage speed and innovation as a competitive advantage. 

Electronic collaboration tools are essential to geographically dispersed teams. These tools are growing in sophistication and they are becoming an integrated feature of how teams communicate around the globe. Many organizations are finding that it is best to purchase a third-party tool rather than developing one internally. Tools such as Spigot, Bright Idea, Communispace, offer collaboration-based models that are customizable and allow for social collaboration either within your team or with customers.

A new, lightweight process is emerging which involves fewer formal reviews at major milestones. It replaces formal reviews with leaner "check-ins." The team establishes a contract with upper management that outlines the parameters for the project in terms of cost, schedule, resources, etc. The team is self-organizing and self-managing as long as it stays within the bounds of its contract. This approach speeds team decision-making, flexibility and responsiveness to change.

There is a trend toward shared accountability in which individuals are not successful unless everyone is successful. Performance reviews and compensation, even at a quite senior level, are tied to team goals. This builds incentives into the system that help to foster a culture of collaboration and superior teamwork. 

Most organizations have seen this scenario: a design engineer for a consumer electronics product does not complete his design on time. This delay causes downstream ripples for the testing group, as well as manufacturability issues. With performance reviews tied to product goals, and not just individual goals, the design engineer is not only rewarded for designing a good product but also for designing manufacturable products and delivering the design on time.

Some companies are building high-performance teaming into their corporate culture from the earliest days of the organization. This entails hiring confident, competent people who want to be responsible and accountable for driving high-quality products to market.  High performers will not stay with an organization where they are micromanaged or where they do not have the freedom to allow their talent to flourish. Social media now has a very significant impact on a company's reputation. For example, in an environment like Silicon Valley, a company’s reputation as an employer becomes well-known. High performers are attracted to those companies where they can thrive in a culture of high-performance teamwork and innovation.