This article argues that the conceptual development of product innovation models goes hand in hand with paradigmatic changes in the field of organization science. Remarkable similarities in the change of organizational perspectives and product innovation models are noticeable. To illustrate how changes in the organizational paradigm are being translated into changes in new product development (NPD) practices, five NPD models are presented: the sequential, compression, flexible, integrative and improvisational models. The evolution of product innovation management shows a move from planned and mechanistic, towards emergent and organic models. Such a process of re-orientation poses several challenges that are presented in the form of six propositions: from universal to contingent models, from invariant to flexible practices, from avoiding risks to taking advantage of opportunities, from planning to learning, from exclusive teams to inclusive networks, from structure to structured chaos.