Why Product Management Is Needed in the Next Normal

Here’s why product management is needed in the next normal. Read on to learn more.

Why Product Management Is Needed in the Next Normal

What is product management and why is it important?

Product management is the art and science of managing a product or product-like things: from concept to development, launch, and beyond. 

Product managers work with cross-functional teams (including engineering, design, and marketing) to determine what to build, how to build it, and when to launch.

So why do we need product management in the next normal?

The world is getting more complex.

People are getting smarter and working harder to process more data than ever before, but this isn’t making things easier. 

It’s just making it harder to manage the increasing complexity in the world today.

Technology is exploding. 

There are more tools available than ever before, which makes it possible to build more things than ever before.

Competition is intensifying.

There are more startups out there than ever before, which means more competition for the same consumer dollars.

The rate of change is increasing.

More products and companies are starting up and failing than ever before, which means that the market is changing faster than ever before.

This is the new normal we live in.

And we need product management to help us navigate it. It helps us stay focused on what matters while ignoring noise that doesn’t matter.

This is why product management is needed in the next normal. It’s not just a “nice-to-have”. It’s a must-have!

How Product Management Works

Product management as a function has evolved significantly over the years as companies have started to realize the need for someone to own the product and focus on the customer.

Back in the day, there was a lot of ambiguity around roles and responsibilities. Many people used to get by with “doing whatever it takes to ship”. 

But product management is more than just shipping. It’s about owning the product, managing the team, and driving impact on revenue and/or user growth.

Product management is the intersection of business and technology: growing revenue and accelerating your business growth through digital transformation. 

Also, product managers work with cross-functional teams (including engineering, design, and marketing) to determine what to build, how to build it, and when to launch. 

They own the strategy and roadmap of a product or product line. They collaborate with stakeholders on core components of the product (billing, retention, etc.), while also owning parts of the product (user experience, pricing).

Product managers have a unique mix of skills – they have to be technical enough to understand what’s technically feasible and business savvy enough to know what’s right for the business.

The good news is that product managers don’t need to be technical experts; they just need to be able to understand the technology and its implications.

Summary

Product management is the intersection of business and technology: growing revenue and accelerating your business growth through digital transformation.

Product managers work with cross-functional teams (including engineering, design, and marketing) to determine what to build, how to build it, and when to launch.

Product managers have a unique mix of skills – they have to be technical enough to understand what’s technically feasible and business savvy enough to know what’s right for the business.

So what do you think? Is product management still needed in the next normal?