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Strong-form Product
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Product Man...
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Overview
Product Man...
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Strong-form Product Management Model

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DOCUMENT DESCRIPTION
Most Product Managers have relatively narrow roles and decision rights on product portfolios are fragmented on various functions. This creates incoherence between a company's product and its overall Corporate Strategy.

What is needed is a more accountable decision rights that align responsibility for results to one person who also has cross-functional decision-making authority. This realignment is at the core of Strong-form Product Management.

This presentation provides the basic framework on Strong-form Product Management Model. Adopting a Strong-form Product Management Model begins with 5 essential steps.

1. Hire Product Managers with Proper Skills.
2. Create Financial Transparency to the Product Level.
3. Implement Product-first Decision-making Processes.
4. Develop Strong Customer Relations.
5. Encourage Cross-functional Collaboration.

This presentation also discusses Change Management principles to follow to successfully transform your Product Management processes and adopt the Strong-form Model, as well as how the Strong-form Model links Strategy to Execution.

This deck also includes slide templates for you to use in your own business presentations.

Publicado en: Empresariales
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Strong-form Product Management Model

  1. 1. This is an exclusive document to the FlevyPro community - http://flevy.com/pro Framework Primer Strong-form Product Management Model Presentation created by Implement Product-first Decision- making Processes. Hire Product Managers with Proper Skills. Create Financial Transparency to the Product Level. Develop Strong Customer Relations. Encourage Cross-functional Collaboration 1 2 3 4 5
  2. 2. 2This document is an exclusive document available to FlevyPro members - http://flevy.com/pro Contents Overview Product Management Adopting the Strong-form Model Change Management Templates The content on this page has been partially hidden. FlevyPro members can download the full document here: http://flevy.com/browse/flevypro/strong-form-product-management-model-3776
  3. 3. 3This document is an exclusive document available to FlevyPro members - http://flevy.com/pro A Strong-form Product Management is an innovative approach to managing product portfolios Presentation Overview Implementing the Strong-form Model can keep companies stay ahead of Change. Most Product Managers have relatively narrow roles and decision rights on product portfolios are fragmented on various functions. This creates incoherence between a company’s product and its overall Corporate Strategy. What is needed is a more accountable decision rights that align responsibility for results to one person who also has cross-functional decision-making authority. This realignment is at the core of Strong-form Product Management. This presentation provides the basic framework on Strong-form Product Management Model. Adopting a Strong-form Product Management Model begins with 5 essential steps. This presentation also discusses Change Management principles to follow to successfully transform your Product Management processes and adopt the Strong-form Model, as well as how the Strong-form Model links Strategy to Execution. This deck also includes slide templates for you to use in your own business presentations. 1 Hire Product Managers with Proper Skills. 2 Create Financial Transparency to the Product Level. 3 Implement Product-first Decision-making Processes. 4 Develop Strong Customer Relations. 5 Encourage Cross-functional Collaboration. The content on this page has been partially hidden. FlevyPro members can download the full document here: http://flevy.com/browse/flevypro/strong-form-product-management-model-3776
  4. 4. 4This document is an exclusive document available to FlevyPro members - http://flevy.com/pro Contents Overview Product Management Adopting the Strong-form Model Change Management Templates The content on this page has been partially hidden. FlevyPro members can download the full document here: http://flevy.com/browse/flevypro/strong-form-product-management-model-3776
  5. 5. 5This document is an exclusive document available to FlevyPro members - http://flevy.com/pro Product Management is an organizational lifecycle function within a company Superior and differentiated new products – ones that deliver unique benefits and superior value to customers – are the number one driver of success and product profitability. Product Management – Overview Product Management deals with the planning, forecasting, production, and marketing of the product or products at all stages of the product lifecycle. ULTIMATE GOAL OF PRODUCT MANAGEMENT To optimize the business at the product, product line or product portfolio level over the lifecycle of the products. To deliver measurable business results through product solutions that meet both market needs and company goals. OBJECTIVES Maximize sales, revenues, market share, and profit margins. Involves product elimination decisions. The Product Life Cycle (PLM) Management integrates people, data, processes, and business systems. It provides product information for companies and their extended supply chain enterprise. 1. Identification of elimination candidates. 2. Consideration of remedial actions. 1. Projection of impact on the business as a whole if candidate product is eliminated. 2. Determination of elimination strategy for the product. 1 2 3 4 The content on this page has been partially hidden. FlevyPro members can download the full document here: http://flevy.com/browse/flevypro/strong-form-product-management-model-3776
  6. 6. 6This document is an exclusive document available to FlevyPro members - http://flevy.com/pro The fall of RIM can be attributed to a failure in Product Management Today, BlackBerry’s market has plummeted and the firm is fighting to survive. Product Management – Cautionary Case of RIM In April 2007, Research in Motion (RIM) was flying high. The BlackBerry creator was coming off its best year ever. RIM was experiencing record revenues, record earnings per share, and record shipments. And there was a new reason to be optimistic: Apple had just introduced the iPhone and RIM executives took it for granted that their product—a runaway hit in the business world—would grab a huge share of the burgeoning consumer market as well. The confidence proved to be ill founded. The iPhone reversed the historical pattern of computer technologies flowing from the enterprise to the consumer market. RIM is compelling as a cautionary tale but it is not unique. Many companies falter in the face of discontinuous change. Their failure usually stems from their inability to keep up with technological shifts or the complexity of their product lines. Though often seen as a breakdown at the enterprise level, this starts at a much more granular level, with ineffective Product Management. The content on this page has been partially hidden. FlevyPro members can download the full document here: http://flevy.com/browse/flevypro/strong-form-product-management-model-3776
  7. 7. 7This document is an exclusive document available to FlevyPro members - http://flevy.com/pro A Strong-form Model is an innovative approach to managing product portfolios A Strong-Form Model keeps companies stay ahead of change and remain competitive. Product Management – Strong-form Model Decision rights must align responsibility for results to one person who also has cross-functional decision-making authority. This realignment is the core of Strong-Form Product Management. Source: Product Management Gets Stronger, PwC, 2013 Drive outcomes through a clear understanding of customer needs and leveraging all available channels. Responsible for top-line growth and other financial outcomes. The Product Manager becomes General Manager, as they perform critical roles. Make major product changes when needed. Force actions across functional boundaries. The content on this page has been partially hidden. FlevyPro members can download the full document here: http://flevy.com/browse/flevypro/strong-form-product-management-model-3776
  8. 8. 8This document is an exclusive document available to FlevyPro members - http://flevy.com/pro Contents Overview Product Management Adopting the Strong-form Model Change Management Templates The content on this page has been partially hidden. FlevyPro members can download the full document here: http://flevy.com/browse/flevypro/strong-form-product-management-model-3776
  9. 9. 9This document is an exclusive document available to FlevyPro members - http://flevy.com/pro A Strong-form Product Management can be a company’s value proposition to customers The 5 Steps to Strong-Form Product Management is a Change Management process to successful transformation. Adopting the Strong-form Model – Overview A Strong-form Product Management Model can benefit companies developing a single new product with high level of investment or companies with dozens of product lines. However, any wrong decision made could have devastating financial consequences. Source: Product Management Gets Stronger, PwC, 2013 A company making a transition must take the 5 steps to successfully adopting a Strong-Form Product Management. Implement Product-first Decision- making Processes. Hire Product Managers with Proper Skills. Create Financial Transparency to the Product Level. Develop Strong Customer Relations. Encourage Cross- functional Collaboration 1 2 3 4 5 The content on this page has been partially hidden. FlevyPro members can download the full document here: http://flevy.com/browse/flevypro/strong-form-product-management-model-3776
  10. 10. 10This document is an exclusive document available to FlevyPro members - http://flevy.com/pro The first step is about hiring or training Product Managers as investing in talent is critical Managing increasingly important product portfolios can be a stepping stone to a position in the C-suite. 1. Hire Product Managers KEY CONSIDERATIONS ACTIONS TO TAKE STEP Hire Product Managers with Proper Skills. Intrinsic abilities are required by Product Managers – the judgment to understand tradeoffs, anticipate market changes, and make savvy business decisions. Technical expertise is needed to work with advanced functional leaders. Influencing skills are essential to generate leaders’ involvement and support. Collaborative leadership style is important to get the best from people. Put increased emphasis on learning and development. Rotate Product Managers through key functional areas. Create new practice to develop and reward managers’ performance. Give heightened attention to succession planning. Product Managers have entrepreneurial mindset to connect with customers, a general manager-like willingness to take risks, and a desire to be responsible for the P&L and meeting key metrics. IMPACT ACTIONS TO TAKE The content on this page has been partially hidden. FlevyPro members can download the full document here: http://flevy.com/browse/flevypro/strong-form-product-management-model-3776
  11. 11. 11This document is an exclusive document available to FlevyPro members - http://flevy.com/pro The second step is focused on creating Financial Transparency that must be undertaken down to the product level Transparency is essential if Strong-form Product Management is to have the maximal impact. 2. Create Financial Transparency KEY CONSIDERATIONS ACTIONS TO TAKE STEP Create Financial Transparency to the Product Level. Information on monthly sales, operating margins, and cost is often not provided on a product level. There is a lack of insight on how individual products are doing vs. expected performance. A given product may be siphoning revenue from more profitable products. Increase in costs from suppliers that is managed by another function may cause hidden opportunity costs or out-and-out profit surprises. Make much more granular financial information available to Product Managers. Measure actual product revenue and profitability over both the near and long term. Major changes affecting a product’s life cycle is immediately addressed. Product Managers have the insight to identify marginal or unprofitable products, as well as products that don’t fit well with the company’s most important capabilities. IMPACT ACTIONS TO TAKE The content on this page has been partially hidden. FlevyPro members can download the full document here: http://flevy.com/browse/flevypro/strong-form-product-management-model-3776
  12. 12. 12This document is an exclusive document available to FlevyPro members - http://flevy.com/pro The third step centers on broadening decision rights and increasing accountability of Product Managers for performance and results Product Managers have the key role in implementing strategy by deciding which product attributes to develop and preserve, what services to include, and what price points to hit. 3. Implement Product-first Decision-making Processes KEY CONSIDERATIONS ACTIONS TO TAKE STEP Implement Product-first Decision-making Processes. Product Managers must lead product launches, channel strategies, pricing and many other decisions. Product Managers must have a “first among equals” status. Product Managers must generate the product road maps and resolve conflicts among functions. Provide Product Managers broad decision rights. Make Product Managers responsible for weighing inputs from the functions against the ultimate goal of enhancing long-term enterprise value. Enable the Product Managers to ensure that the product portfolio is coherent with the Corporate Strategy. A Strong-form Product Manager can resist lifetime cost- savings initiatives if cost savings would jeopardize the characteristic of a product that make a customer prefer it. IMPACT ACTIONS TO TAKE The content on this page has been partially hidden. FlevyPro members can download the full document here: http://flevy.com/browse/flevypro/strong-form-product-management-model-3776
  13. 13. 13This document is an exclusive document available to FlevyPro members - http://flevy.com/pro Product Managers must translate customer insights into product improvement and new products Primary objective is to find the sweet spot of having a differentiated and market position without letting costs get out of control. 4. Develop Strong Customer Relations KEY CONSIDERATIONS ACTIONS TO TAKE STEP Develop Strong Customer Relations. Product changes becomes tactical instead of being implemented with long-term profitability if sales and marketing decide which product features are added. There is a possible failed launch if R&D is allowed to push new technology to market that may not fit with customer priorities. Failure to retire aging products with declining number of customers can be detrimental. Pushing so many products into the market can overwhelm or confuse customers. Establish closer connections to end- users to enable Strong-form Product Managers to effectively manage complexity and to deliver the right products and feature sets. Strong-form Product Manager can distinguish necessary from unnecessary complexity. ACTIONS TO TAKE IMPACT The content on this page has been partially hidden. FlevyPro members can download the full document here: http://flevy.com/browse/flevypro/strong-form-product-management-model-3776
  14. 14. 14This document is an exclusive document available to FlevyPro members - http://flevy.com/pro The fifth step is to encourage cross-functional collaboration as Strong- form Product Management is inherently cross-functional The Strong-form Product Manager must be at the center of knowledge. 5. Encourage Cross-functional Collaboration KEY CONSIDERATIONS ACTIONS TO TAKE STEP Encourage Cross-functional Collaboration. Communication is essential in developing the relationship between marketing and product management. There is a debate as to which group sets the product mix, sales plan, and forecast. An important relationship exists between engineering and product management – someone needs to oversee the trade-offs in early stages of product development. Break down organizational barriers. Strong-form Product Managers with good relationship with peers may recognize faster the value that could be created – in the form of increased product quality or lower costs – by changing suppliers. ACTIONS TO TAKE IMPACT The content on this page has been partially hidden. FlevyPro members can download the full document here: http://flevy.com/browse/flevypro/strong-form-product-management-model-3776
  15. 15. 15This document is an exclusive document available to FlevyPro members - http://flevy.com/pro Contents Overview Product Management Adopting the Strong-form Model Change Management Templates The content on this page has been partially hidden. FlevyPro members can download the full document here: http://flevy.com/browse/flevypro/strong-form-product-management-model-3776
  16. 16. 16This document is an exclusive document available to FlevyPro members - http://flevy.com/pro Adoption of a Strong-form Product Management Approach requires taking Change Management initiative A Strong-form Model offers significant opportunities to move from strategy to execution while ensuring coherence. Change Management – Principles Make leadership changes at the Product Manager level. Explain and advocate the benefits of the new model. Prevail other functional leaders to accept a new organizational paradigm and shift away from old roles in product management. Involvement of the CEO and other senior leaders1 Undertaking a Change Management initiative can take years to implement. Success can be achieved when anchored on basic Principles of Change Management. Articulate project goals. Establish metrics for success. Monitor progress and course correct if things don’t go as planned. Appointment of a Change Management Team to manage Transformation 2 Identify highly skilled Product Managers at the outset. Put Product Managers in charge of the most important project. Enable Product Managers to work on improving transparency to bring immediate benefits. Introduction of improvements along the way 3 Build capability on Strong-form Product Management on either one business unit or the entire enterprise. Use Strong-form Management in fast-evolving area.Maintaining flexibility 4 The content on this page has been partially hidden. FlevyPro members can download the full document here: http://flevy.com/browse/flevypro/strong-form-product-management-model-3776
  17. 17. 17This document is an exclusive document available to FlevyPro members - http://flevy.com/pro Moving from Strategy to Execution while ensuring coherence is a critical enabler of success Companies need to embrace the Strong-from Model to avoid becoming the next cautionary tale. Change Management – Strategy to Execution Significant opportunities arise when companies move from Strategy to Execution. STRATEGY 1 Create a tight link between strategy, the customer, and products & services through its lifecycle. STRATEGY 2 Allow technologies to evolve and increase the chance for complexities to overwhelm the product line. IMPACT Strong-form Product Management becomes the nexus of the company’s current portfolio, future portfolio, and long-term portfolio. IMPACT Strong-form Product Managers can ensure that the company is leveraging the best information to make smart decisions about innovation and development. The content on this page has been partially hidden. FlevyPro members can download the full document here: http://flevy.com/browse/flevypro/strong-form-product-management-model-3776
  18. 18. 18This document is an exclusive document available to FlevyPro members - http://flevy.com/pro Contents Overview Product Management Adopting the Strong-form Model Change Management Templates The content on this page has been partially hidden. FlevyPro members can download the full document here: http://flevy.com/browse/flevypro/strong-form-product-management-model-3776
  19. 19. 19This document is an exclusive document available to FlevyPro members - http://flevy.com/pro Insert headline Insert bumper. Adopting the Strong-form Model – TEMPLATE Source: Product Management Gets Stronger, PwC, 2013 Implement Product-first Decision- making Processes. Hire Product Managers with Proper Skills. Create Financial Transparency to the Product Level. Develop Strong Customer Relations. Encourage Cross- functional Collaboration 1 2 3 4 5 • Insert filler text, filler text, filler text, filler text. • Insert filler text, filler text, filler text, filler text. • Insert filler text, filler text, filler text, filler text. • Insert filler text, filler text, filler text, filler text. • Insert filler text, filler text, filler text, filler text. • Insert filler text, filler text, filler text, filler text. • Insert filler text, filler text, filler text, filler text. • Insert filler text, filler text, filler text, filler text. • Insert filler text, filler text, filler text, filler text. • Insert filler text, filler text, filler text, filler text. The content on this page has been partially hidden. FlevyPro members can download the full document here: http://flevy.com/browse/flevypro/strong-form-product-management-model-3776
  20. 20. 20This document is an exclusive document available to FlevyPro members - http://flevy.com/pro Encourage Cross-functional Collaboration. 5 Insert headline Insert bumper. Adopting the Strong-form Model – TEMPLATE ALTERNATE Source: Product Management Gets Stronger, PwC, 2013 Implement Product-first Decision-making Processes. 3 Create Financial Transparency to the Product Level. 2Hire Product Managers with Proper Skills. 1 Develop Strong Customer Relations. 4 • Insert filler text, filler text, filler text, filler text. • Insert filler text, filler text, filler text, filler text. • Insert filler text, filler text, filler text, filler text. • Insert filler text, filler text, filler text, filler text. • Insert filler text, filler text, filler text, filler text. • Insert filler text, filler text, filler text, filler text. • Insert filler text, filler text, filler text, filler text. • Insert filler text, filler text, filler text, filler text. • Insert filler text, filler text, filler text, filler text. • Insert filler text, filler text, filler text, filler text. The content on this page has been partially hidden. FlevyPro members can download the full document here: http://flevy.com/browse/flevypro/strong-form-product-management-model-3776
  21. 21. 21This document is an exclusive document available to FlevyPro members - http://flevy.com/pro Insert headline Insert bumper. Adopting the Strong-form Model – TEMPLATE ALTERNATE Source: Product Management Gets Stronger, PwC, 2013 Encourage Cross-functional Collaboration. 5 Develop Strong Customer Relations. 4 Implement Product-first Decision-making Processes. 3 Create Financial Transparency to the Product Level. 2 Hire Product Managers with Proper Skills. 1 The content on this page has been partially hidden. FlevyPro members can download the full document here: http://flevy.com/browse/flevypro/strong-form-product-management-model-3776
  22. 22. 22This document is an exclusive document available to FlevyPro members - http://flevy.com/pro Download 100s of similar frameworks from the FlevyPro Library: https://flevy.com/pro/library/frameworks The content on this page has been partially hidden. FlevyPro members can download the full document here: http://flevy.com/browse/flevypro/strong-form-product-management-model-3776
  23. 23. 23This document is an exclusive document available to FlevyPro members - http://flevy.com/pro Need more frameworks? Download our Complete Business Frameworks Reference Guide, a 350+ slide compilation of 50+ frameworks, on Flevy The Complete Business Frameworks Reference Guide is a best selling document on Flevy. It is 350+ slides--covering 50+ common management consulting frameworks and methodologies. A summary is provided for each business framework. The frameworks in this deck span across Corporate Strategy, Sales, Marketing, Operations, Organization, Change Management, and Finance. This reference guide is great for those who need a refresher on common frameworks, as well as be introduced and learn new useful frameworks. You can find this document here; http://flevy.com/browse/business-document/complete- consulting-frameworks-toolkit-644 The content on this page has been partially hidden. FlevyPro members can download the full document here: http://flevy.com/browse/flevypro/strong-form-product-management-model-3776
  24. 24. 24This document is an exclusive document available to FlevyPro members - http://flevy.com/pro Flevy (www.flevy.com) is the marketplace for premium documents. These documents can range from Business Frameworks to Financial Models to PowerPoint Templates. Flevy was founded under the principle that companies waste a lot of time and money recreating the same foundational business documents. Our vision is for Flevy to become a comprehensive knowledge base of business documents. All organizations, from startups to large enterprises, can use Flevy— whether it's to jumpstart projects, to find reference or comparison materials, or just to learn. Contact Us Please contact us with any questions you may have about our company. • General Inquiries support@flevy.com • Media/PR press@flevy.com • Billing billing@flevy.com The content on this page has been partially hidden. FlevyPro members can download the full document here: http://flevy.com/browse/flevypro/strong-form-product-management-model-3776
  25. 25. 1 Flevy (www.flevy.com) is the marketplace for premium documents. These documents can range from Business Frameworks to Financial Models to PowerPoint Templates. Flevy was founded under the principle that companies waste a lot of time and money recreating the same foundational business documents. Our vision is for Flevy to become a comprehensive knowledge base of business documents. All organizations, from startups to large enterprises, can use Flevy— whether it's to jumpstart projects, to find reference or comparison materials, or just to learn. Contact Us Please contact us with any questions you may have about our company. • General Inquiries support@flevy.com • Media/PR press@flevy.com • Billing billing@flevy.com

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