Schools of Thought in Product Management
A review of the four distinct schools of thought that have emerged 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 multidisciplinary and multifaceted, responsible for nearly everything related to the product.
The primary consideration is that product management is a generalization, not a specialization, which leads to monikers such as the CEO of the Product describing the supposedly encompassing nature and broad profile of product management practitioners.
The Generalization approach describes product management as diverse responsibilities that may include tasks offloaded from other corporate functions.
The Generalization approach 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 product’s business aspects with a broad emphasis on all monetary issues.
Consequently, this approach resembles a scaled-down executive management function.
This approach deals with decision-making, process application, interdepartmental coordination, project management, team management, revenue management, metrics costing, pricing, etc., relative to the product.
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 relevant because the thinking is primarily geared toward 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 that 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.
Indeed, many product managers at companies implementing the technology approach are former engineers who perform various activities supporting product development and, occasionally, sales.
These practitioners’ main job focus is to determine product functionality and features and communicate these to product development.
With the Technology approach, a product manager’s deep understanding of technology and product knowledge is highly valued. Conversely, market research is regarded as a low-priority activity.
At software development companies that adopt Agile/Scrum, a lightweight software development method, it is considered legitimate for a product manager to assume the responsibilities of a Scrum product owner.
Product management practitioners subject to the Technology approach are forced to contemplate their professional identity and place in the hierarchy and consider how they should adapt to changes in the product development sphere.
Guided by Principles
The Methodology approach to product management views product management as a professional domain governed by a set of foundation rules 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, not a managerial, operational, tactical, or technical function.
Starting Point
Everything in product management (roles, responsibilities, processes, tasks, etc.) depends on a very clear domain definition.
The Generalization, Business, and Technology approaches lack foundation rules, which leads to a perpetual search for 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. All processes, roles, tasks, responsibilities, team models, etc., are derived from that definition.
How We Work
The Generalization, Business, and Technology approaches result from people’s natural inclination to conceptualize and frame their worldview according to their own (mostly previous) personal work experience.
Certain companies often employ the Generalization, Business, and Technology approaches because the company’s founders applied a particular way of doing product management, often modeled after themselves as generalists, technologists, or business-oriented. After a while, that approach becomes entrenched.
Companies that require the discipline of an organized doctrine employ the Methodology approach to product management.
Companies choose the Methodology approach 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, mainly 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 slower pace.
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