Schools of Thought in Product Management
Introduction
This review outlines the four distinct schools of thought that have emerged in product management.
CEO of the Product
The Generalization approach to product management views product management as being multidisciplinary and multifaceted, and responsible for nearly anything and everything related to the product.
The main consideration that product management is a generalization, not a specialization, leads to monikers such as CEO of the Product to describe the supposedly encompassing nature and broad profile of product management practitioners.
The Generalization approach describes product management as a collection of diverse responsibilities which may even include tasks offloaded from other corporate functions. It also describes product management as the backbone, connective tissue, or glue that holds together all aspects of a product project.
Constant deliberations on the scope of ownership, range of responsibilities, desired skills, and how to lead without authority are prevalent.
Business of the Product
The Business approach to product management is heavily focused on the business aspects of the product with a broad emphasis on all monetary issues.
Consequently, this approach very much resembles a scaled-down executive management function, and in relation to the product it deals with decision making, process application, interdepartmental coordination, project management, team management, revenue management, metrics, costing, pricing, etc’.
Phrases such as “owning the strategy”, “driving execution”, and “profit and loss accountability” are frequently used in conjunction with this approach.
Discussions on how product management should deal with business strategies, business models, and any of the latest business or market trends are considered very relevant because the thinking is primarily geared towards making money.
Expectedly, the Business approach to product management is fixated on any trending innovation, such as big data, machine learning, artificial intelligence, automation, analytics, virtual reality, robotics, intelligent applications, and just about any new technology of the day that perhaps could be leveraged to make more money.
Part of Engineering
The Technology approach to product management considers product management as an extension of product development, and at times even subservient to product development.
The Technology approach exhibits a mindset that contemplates all product-related issues, roles, responsibilities, processes, and tasks from a technological or developmental viewpoint.
With the Technology approach, product management practitioners are expected to be technically astute and indeed many are former engineers who perform a variety of activities that support product development and occasionally sales.
These practitioners’ main job focus is to determine product functionality and features, and communicate these to product development. A deep understanding of technology and of product knowledge is highly valued. Conversely, market research is regarded as a low priority activity.
At software development companies who adopt Agile/Scrum, a lightweight software development method, it is considered legitimate for a product manager to also assume the responsibilities of the Scrum product owner role.
Product management practitioners who are subject to the Technology approach to product management are forced to contemplate their professional identity and place in the hierarchy, and ponder how they should adapt to changes that occur in the product development sphere.
Guided by Principles
The Methodology approach to product management views product management as a professional domain which is governed by a set of foundation rules that are supported by cogent rationales and solid arguments.
The Methodology approach regulates everything in product management such as terminology, definitions, roles, tasks, responsibilities, teams, models, processes, interfaces to other departments, etc., according to a methodological foundation and fosters a more strategic, systematic, and disciplined way into how the company deals with all product-related issues.
The Methodology approach to product management treats product management as a highly strategic function, and not as a managerial, operational, tactical, or technical function.
Starting Point
Everything in product management (roles, responsibilities, processes, tasks, etc’) depends on a very clear definition of the domain.
The Generalization, Business, and Technology approaches’ lack of foundation rules leads to a perpetual search to articulate a clear and consistent definition of product management.
The absence of a consistent definition is usually explained through claims that product management is in its infancy, or constantly evolving, or that every company supposedly defines product management differently.
In the Methodology approach to product management, a very clear definition of product management is available from the outset and all processes, roles, tasks, responsibilities, team models, etc’ are derived from that definition.
How We Work
The Generalization, Business, and Technology approaches are the result of people’s natural inclination to conceptualize and frame their world view according to their own (mostly previous) personal work experience.
The Generalization, Business, and Technology approaches are employed by certain companies often because the company’s founders applied a certain way of doing product management, which is often modeled after themselves being generalists, technologists or business-oriented. After a while that approach becomes entrenched.
The Methodology approach to product management is employed by companies who require the discipline that an organized doctrine brings.
The Methodology approach is chosen by companies due to the structured nature of the markets that these companies serve or because of these companies’ own highly organized internal culture.
Summary
The Generalization, Business, and Technology approaches to product management remain very popular, mostly because their concepts are relatively easy to explain, understand, and implement.
The Methodology approach to product management experiences steady growth and increased adoption in the market, albeit at a much slower pace.