Product teams are a hot topic. Technology vendors use them, but internal tech organizations are also interested in this approach. Many organizations worldwide are moving away from deep functional specialization and toward leveraging cross-functional, mission-oriented, tightly collaborative teams for rapid innovation. This is a key Forrester Future Fit operating model element for organizations to rapidly redeploy their resources adaptively and creatively in response to challenges from an increasingly volatile environment. This report helps tech leaders understand the reasons for the shift to product teams, its advantages and limitations, and what it means for the organization.