The Product Manager: The Real Driver of Growth
Organisations that have a strong reliance on technology have been the driving force behind the increased popularity of product management. The emergence of DevOps and Agile practices have necessitated a streamlined approach to decision-making; resulting in the need for a dedicated individual who is responsible for guiding the direction and development of each product, in order to ensure the business’s requirements are met.
It is often said that a Product Manager is akin to a miniature CEO, as they are the ones who ultimately make decisions and are responsible for the direction of the product. Just as a CEO must have a holistic view of their organisation, a Product Manager must have a comprehensive understanding of the people and processes that must come together to achieve an objective.
The results of a successful product strategy may be felt in many areas
The impact of the product’s success or failure on the company’s financial position could be significant, depending on the product in question. It is essential that the right individuals are recruited to fill this role as its importance is clear. Furthermore, these individuals will act as a vital bridge between the product team and the relevant business divisions, with their decisions having a direct influence on the company’s growth.
As a Product Manager, it is essential to maintain a broad perspective on the product and its associated tasks, in order to effectively promote the growth and expansion of a company. This requires balancing conflicting priorities and, where necessary, making decisions that will have a significant impact on the company’s key performance indicators, such as revenue and customer growth. Whether the product is being sold commercially or not, careful consideration must be given to the long-term strategic objectives of the organisation and the development plans for the near future. This may involve prioritising the development of features that will improve the customer experience or those that will increase profits. Additionally, for commercially sold products, the Product Manager may be responsible for setting an appropriate pricing strategy.
Their own company’s chief executive officer
It is clear from this comparison between a Product Manager and a CEO that it is the responsibility of the Product Manager to ensure that the development of the product is in line with the requirements of the business and its customers, regardless of the size or number of users of the product.
It is not surprising to find that many of the world’s most successful companies, such as Microsoft and Google, are led by former product managers, given the breadth of influence they have. There is no one definitive path to a career in product management, and this is becoming increasingly evident. Some companies may place greater value on commercial experience, while others may be looking for in-depth technical expertise, or a combination of both. However, for a product to be utilised to drive corporate growth, it is essential to have a clear understanding of its commercial value. We are partnering with Knowledge Officer to provide our community with access to their training courses, as well as our community with job opportunities via the Works network, which should both contribute to their development and progress.
Read on to find out more about the relationship.
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