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Most pundits agree that our world will be different. No one knows to what extent, but for sure it will be different. Whatever happens to our economies, lifestyles, or needs, the uncertainty is higher than ever before. The question is, what will make the growth wheels spin again.
While many of us are occupied in the current situation, trying to live our lives and also save lives, some need to start planning for the future. Leaders of companies and other organizations cannot wait to point out the way forward. We need to get going. We have an economy to save!.
I'm sure leaders, all over the world, are struggling with their future. What will attract customers? Which new market behaviors will we see? How long will the downturn last? What margins are feasible? What will make my company survive?
My prediction is that The art of innovative Product Management will be the key. Yes, it was important before as well. But, now the pressure to be able to quickly deliver what customers will buy is much stronger, with the development of Lean-Agile mindset and frameworks, has for many years become more and more important. I am so sure this development will accelerate so much more. Since the thing with Lean and Agile is all about taming the uncertainty.
The chance of success through cost-saving savings and supply-chain/production optimization is getting lower. Company Instead, company leaders need to focus more on building the capability to innovate, create new products, and interact with the market to validate what is flying or not.
My prediction is that Product Management will be the key. Yes, it was important before as well. But, now the pressure to be able to quickly deliver what customers will buy is much stronger.
Just forget to do well-defined plans and product designs. When dealing with this massive uncertainty, building up new knowledge, and adjust is going to be your way forward. Those who are willing to act now will be rewarded pretty soon because we, because of the pandemic, will see a lot of market changes.
We will need much more of, what many companies already are doing. Experimentation and measuring of business results. Don't worry, plenty of companies have been doing it for a while and many tools and techniques are available.
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Sunk cost. Just because a lot of work and resources have been put into something, it does not mean it is Valuable.
Value streams. If you have not identified your real value streams and paid them the proper attention it is now time. Your current organization is probably not fit to take on the new challenges.
Transformational, servant, or whatever we call leadership that let people thrive. You will need an organization that can innovate and gets the right products out on the market. You need to be open, humble, and rewarding as you point out the visionary direction of your enterprise.
Experimentation is key. There is plenty of knowledge on how to perform Business Experiments. Make sure to clarify business ownership.
Backlog, backlog, and backlog. A great Product Backlog is transparent, contains what we would like to have, and is prioritized based on business value. Most organizations do not have the needed knowledge to create great backlogs. They mix projects, activities, and phrases just as before. Top management needs to understand and show the rest of the organization what a great ball log is. Otherwise, it will not happen. I'm sure I have seen it far too offers.
Small batch sizes <picture on stairs?> Leading to slicing
Queue length <Picture?>
Experts participate in the delivery
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Most organizations are still preparing large projects with predefined solutions years ahead of delivery
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Time is over it will not work!
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It is not whether you will be able to develop and deliver a solution. From a technical perspective, it is easier than ever. Today technology is cheaper and more available. The challenge is to figure out which solution will appeal to consumers.
Not good enough to cut costs and increase prices
Roll up your sleeves and get dirty
It is not possible to have all the layers, streamlining organization charts and avoid silos and layers that only add administration or control
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While many of us are occupied in the current situation, trying to live our lives and also save lives, some need to start planning for the future. Leaders of companies and other organizations cannot wait to point out the way forward. We need to get going. We have an economy to save!.
My prediction is that the need for Business agility will even higher after the pandemic. Markets have inevitably changed and many products will not sell. Product Management needs to be innovative solutions. Great products have always been the underlying reason for the success Some times the luck and many times research and innovation The chance of success through cost-saving and production optimization is getting lower. Company leaders need to focus more on building the capability to innovate new products and interact with the market to validate what is flying or not.
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