Organizations of siloed, command-and-control fiefdoms are passing into history. The pace of change driven by technology, social networking, and globalization are reshaping the way successful products are conceived, developed, and delivered. High-performing organizations are combining multiple functional disciplines into one enduring, stable team and empowering them to define business opportunities and iteratively and continually deliver improving solutions. In this report, we describe the broad factors driving these changes and why empowered, multidisciplinary teams are becoming the norm to successfully guide organizations into the future.