The Benefits of a Centralized vs. Decentralized Product Organization Structure

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Designing an organizational structure is challenging, especially for a group product manager. One of the most critical queries is determining which components or tasks to centralize. Cost savings, uniformity, and sharing best practices are just a few advantages that centralization can bring about.

In contrast to decentralized manufacturing organizations, controllable manufacturing costs are 10% cheaper at American Productivity & Quality Center (APQC) (formerly American Productivity & Quality Council)1 organizations.

Management Rules

At the same time, centralization, mainly when it necessitates restructuring an existing business, frequently entails risks of its own, including an increase in the number of approval layers, a delay in decision-making, and a hierarchal disruption of crucial cross-organizational processes as staff members adapt to new working methods. 

Understanding  CENTRALIZATION AND DECENTRALIZATION

It’s critical to define concentration clearly. Centralization concentrates management and decision-making authority at the top of the corporate hierarchy to coordinate financial, human, and other company resources. Strategic planning, goal-setting, budgeting, and talent deployment are usually carried out by a single senior leader or leadership team in centralized organizations. Formal decision-making authority is dispersed among several people or groups in decentralized organizations. It’s interesting to note that while centralization can entail personnel colocation, it need not; centralization is more about where decisions are made than where people sit.

DECENTRALIZATION AS COMPARED TO CENTRALIZATION

For several reasons, leaders decide whether to centralize or decentralize their organizations, and both models have advantages and disadvantages.

Centralization makes sense when costs are heavily influenced by scale or standardization, the need for specialized production capabilities, or the importance of manufacturing strategy to overall company strategy. Decentralization, on the other hand, is more suitable when distinct goods are required for specific markets or when the business must act rapidly in response to shifting or regionally special customer requirements.

Topics of

comparison

 Centralized Decentralized

Matters Related to Finances

And customer   support
  • Creates scale-based economics
  • Favors universally applicable goods and services
  • Being farther from customers makes it less responsive.

 
  • Duplication of resources and effort
  • Encourages creativity and experimentation
  • Offers excellent client proximity and responsiveness

 
Talent
  • Flexible use of the ability
  • Fewer career opportunities for employees
  • Empowerment decreased

 
  • Having trouble integrating talent across different divisions
  • Greater career options
  • Empowerment increased

 
Organization
  • Implementing best practices is easier
  • Comparing success across units is not challenging
  • Slower decision making
  • Increased departmental cooperation
  • Integration of exterior stakeholders will be easier.

 
  • Best practices are adopted at a slower pace
  • Comparing success across units is challenging
  • Decision-making is quicker.
  • Departmental collaboration is more challenging than centralized.
  • Integration of additional features or groups is more challenging.

 

In a centralized organizational structure, many influential leaders hold most of the authority and responsibility for important decisions. A centralized organization’s main decision-makers or executives frequently reside in a central headquarters with desks and gathering spaces for leaders to conduct business.

The Backing of Focused Vision by Centralization: A more centralized structure maintains all company levels focused on one vision or purpose, a crucial characteristic of effective leadership. The president of the business or the executive team can define and convey the company’s vision or strategy to employees, ensuring that all levels are moving on the same path. It helps businesses communicate consistently to customers and communities, preventing possible vision inconsistency.

Quick Implementation Is Now Possible: Centralized organizations generally respond to a dynamic marketplace more quickly than decentralized ones because fewer people are involved in the deliberation and decision-making process. In a small group, leaders can effectively collect information and discuss the advantages and disadvantages of choices. As a result, communication and decision-making are much more effective than in decentralized structures where many local managers would need to contribute. Top managers communicate options to lower levels, who then carry them out as instructed.

Internal Tension Has Decreased: Companies experience less conflict and dissent among lower to mid-level workers when only one person or a small group at the top makes crucial decisions. There is a greater chance of disagreements and differences in implementation if many employees and levels within the company participate in decision-making. Top managers shield other managers and leaders from making risky or unfavorable choices by taking on the responsibility. Lower-level manager-employee interactions should pay particular attention to this.

Accountability and Power: Centralized decision-making gives leaders more control over daily activities and shapes the company’s culture. There is also little doubt about who is responsible for the outcomes of those choices. Top managers are aware to ask the chief buyer for an explanation if the company receives a bargain-basement price in a supplier negotiation. Due to this accountability, top executives push one another to work at their absolute best.

Employee Responsibilities Are Clearly Defined: Employees frequently have clearly defined job descriptions and roles in organizations with decisive centralized leadership. Employees are often more likely to be productive and feel more confident making decisions within their areas of responsibility when they know their responsibilities and those of their colleagues. 

It is easier for management and human resources to decide whether to create new roles or hire more employees when employees have specified responsibilities. Avoiding redundant hires can lower expenses and simplify finding qualified candidates for open positions.

When business executives decentralize decision-making power from the top to the front lines and local managers, they implement a decentralized organizational structure. Each business must determine which strategy works best for it. Decentralized business structures have advantages and disadvantages compared to more centralized processes.

What does a decentralization organization structure have for an organization? The firm typically has a headquarters where key managers operate, and most crucial business decisions are made in a centralized organizational structure. Local managers are then given these choices to carry out as instructed. Although front-line or local managers in decentralized structures still report to top management, they have much more freedom and power to make appropriate choices for their local markets, customers, and other stakeholders.

Benefits of Decentralized: Local leaders are better able to respond rapidly to changes in the local market, which is one significant advantage of a decentralized structure. Customers may become irate if delays occur when they need something and must wait for regional officials to reach out to centralized leaders. Decentralization can boost employee morale because managers and executives feel strongly invested in the company’s success or failure.

  • Increases people’s capacity for creativity and invention. People are shown to be more creative when they have less influence.
  • Increases employee well-being, work satisfaction, and motivation. Additionally, it aids in developing prospective leaders with self-assurance in their choices.
  • This structure is excellent for utilizing people’s knowledge.
  • Threat detection is quicker. Making decisions to counter dangers also happens more quickly.
  • It relieves the top managers of having to make less essential choices.

In a centralized company, the top management may become exhausted by these minor decisions, and they can devote all their attention to making crucial choices.

CONCLUSION

Although decentralization may rise, centralized structures may still result in sizable cost reductions. Choosing the appropriate model for your company is essential to any restructuring endeavor because it can affect costs and efficiency, customer satisfaction, and employee engagement. Consider the advantages and disadvantages of centralization versus decentralization, consider the different hybrid models, and decide which supports your most important business operations. For a topgrading interview guide, one must opt for professional services to save time and hire A-graders.

You can create the business case using this analytical method and confidently decide on your restructuring.

Hiring A Product Manager? 3 Things You Should Do First

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Product managers are an important part of the startup process. They have huge responsibilities, and they need to be able to handle them well! But without the right advice, hiring a product manager can be fraught with complications. So we are here to advise you about how amazing product managers are. We will talk about what really makes their mark for your company.

Finding the right product manager is tough; not just anyone can do this job. You can take the help of the best product management consultant team to find a suitable candidate. So let’s dive into this guide to hiring a productive product manager.

Team discussioon

What Makes A Product Manager Special?

Every company needs a product manager, whether a B2C or a B2B company. The rate at which startups are growing by the day, and the competition is getting tougher. Having the right person to handle all these matters is much more than anything else. You need to have skills to create something that people value. Some of the essential skills Product Manager are as follows:

  • As a Product Manager, you will be in charge of your product’s user experience. You have to know what people like about your product and what they dislike.
  • Being a product manager is creating the best product for your audience and one that can serve your business. As a Product Manager, you will have to work on developing a plan to keep up with the needs of both customers and business.
  • If there is a thing you need to know about as a Product Manager, it is how to do competitive analysis. You should understand your competitors, their strengths, and their weaknesses; even better if you beat them.
  • It will help if you keep up with the latest market trends to know what your customers want. You have to have good analytical skills and complete knowledge of your industry.
  • A strong product manager always knows how to keep their team motivated and how to attract new talent to the team.
  • No one wants to work with someone with a bad temper. So if you want to hire a good product manager, you should find one with a good personality.

3 Things To Do When Hiring A Product Manager!

Hiring a new Product Manager can be tough if you don’t research and make the right decisions. Here are three easy steps to follow when hiring a product manager that will increase the chance of getting a great Product Manager.

  • Get Ready With Your Requirement List 

The first thing you should do when you are hiring a new product manager is to set up your requirements list. This list should include all the skills and qualities you wan

t your product manager to have. The Job description you have set up on social media is a complete picture of the skills and qualities you need in your new product manager in a large scenario. 

But with the help of your company’s requirement list, you can narrow down your needs and set up a person who can fit those shoes even better. The requirement list will also ensure that 

the applicants’ resumes you receive for the position will have all the qualities you are looking for in your product manager.

  • Interview Process Must Be Ready:

After you have your requirements list ready, it’s time to start setting up the interview process. You should get ready with the Product Management Interview Questions. We can help recruiters know what they are looking for and give them the best recommendation. The interview process should include questions that will help them understand applicants’ strengths, weaknesses, and experiences. 

It is also recommended that one should set up a panel of different heads in their company to present the new product manager and have them thoroughly analyze the candidate. This will ensure that they have a well-informed decision and help them conduct better and more detailed interviews.

  • Sell Your Mission And Vision:

Another beneficial thing you can do is to sit down with the candidates and discuss their plans for your product. You must be clear about your product understanding and important elements while interviewing any candidate. This will help you decide whether the idea, strategy or solution the candidate is providing for your product is applicable. If you have a vision for the product, you must understand where to fit into this picture. A good product manager must be encouraged and precisely told how to make this vision come true.

In A Nutshell

In short, hiring a new product manager will be challenging for some companies. But these simple tips will help you to hire the right one for your product. We are sure that you would definitely get some idea about hiring the right product manager for your company.

How onboarding helps a firm in reducing Employee Attrition rate?

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After conducting millennia of interviews, you’ve finally identified the best candidate for the position. After the Product Manager Interview Questions round is over and the Employee is about to join your firm, finding the right individual is only one component of a successful onboarding program. Your onboarding program must have some critical elements starting from recruiting and leading to a robust onboarding process if you want to ensure your new hire’s success from day one onward.

Growth Chart

Why Small Businesses Need to Focus on Onboarding

A strong onboarding program is a sensible investment for a small firm with constrained resources for these three reasons: 

  • It increases output: According to studies, an effective onboarding program can increase new hire productivity by 70%.
  • It aids in increasing staff retention: Strong onboarding procedures increase new hire retention by 82% for the firm.
  • Creating Employee-friendly culture: It takes time to develop a positive workplace culture. That procedure takes even longer if you are unable to keep your personnel. If you have a structured onboarding program, employees are 58% more likely to still be with your company after three years.

Tips to enhance your employee onboarding programme-

What unusual strategies can you use to speed up your onboarding process? Find out by reading on.

  1. Outlines expectations and rules clearly: According to a recent survey, 28% of new hires were confused about their roles and objectives. By giving new hires a clear path to advancement, onboarding programs may help them succeed. This road map is a tool that outlines the duties they are responsible for carrying out, 
  • the information they need to have, 
  • how it is accomplished, 
  • and, if they succeed, the rewards they will receive! 

By providing staff with such explicit directions, you may avoid confusion and irritation up front and motivate them to perform the work you want them to do.

  1. Establishes Links: Strong business cultures are created by developing collaboration and teamwork through good working relationships. They also boost loyalty to the business and job happiness. According to 70% of workers, having friends at work is the most critical component of pleasant work life. An employee onboarding program facilitates recruits’ connections with their team members. The events like a welcome lunch, creating a buddy system, and having team-building activities during induction will help the employee feel they exist. 

Employees that feel at ease among their coworkers are more willing to ask questions and collaborate with the team, which leads to a greater level of performance.

  1. Promotes A Learning Culture: After the initial 90 days, learning should continue, much like the onboarding procedure. A learning culture is promoted by offering employees training opportunities throughout their job and encouraging them to pick up new skills. Employees that frequently update and pick up new skills increase their value to the firm and are happier in their jobs. 
  2. Follow Development: Firms can use onboarding programs to track employee development in various ways. If an onboarding checklist is present, it can be referred to determine the outstanding tasks. Most digital learning tools let you monitor a new hire’s development and determine if they are having trouble understanding certain ideas in the firm. Employees should be able to monitor their progress and identify the areas of difficulty, and seek assistance.
  3. Ensures Quicker Work Start for New Hires: Onboarding programs improve performance and productivity by making it easier for new workers to start working immediately. Without a formal onboarding approach, new hires receive information like a fire hose all at once. The type of information an employee will need at what time is not considered in this type of training. An onboarding program for new workers has the advantage of being arranged to provide new employees with the knowledge they require at the precise moment they need it. Learning and remembering knowledge is simpler when it is delivered in this way. The second goal of an onboarding program is to provide training and information in the most effective way feasible.

For instance, simulations may make it easier for students to learn about sales training since they may practice the processes of traditional role play in a digital setting and keep track of their progress. The ideal format for a checklist would be paper or PDF. There are a variety of other platforms that may be utilized for training, but onboarding programs look for the one that fits each stage of the process the best. Overall, by appropriately delivering knowledge at the right time, this structured method speeds up training and makes it more beneficial for the student.

Conclusion

These 5 ways employee onboarding programs boost performance and productivity:

  1. To prevent misunderstanding, provide the recruit with some guidance, rules, and expectations for them.
  2. They assist new hires in establishing relationships with their team and organizational culture to improve employees’ teamwork.
  3. It creates a learning culture where employees receive training at all times during their job, not just the first 90 days.
  4. They want to monitor employees’ development and check in frequently to address any problems.
  5. Giving the correct information at the right time in the right format helps new hires get to work more quickly.

In general, employee onboarding training initiatives by headhunting firms nyc boost output and performance by tackling the most difficult facets of being a new hire and consistently dispensing instruction at the appropriate moment.

What Executive Interview Questions Can You Ask At Your Upcoming Interview?

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An interview is the most important step in securing a job to help you fulfill your business goals and aspirations. This is essential for the employer to understand before deciding whether or not a candidate is interested in this opportunity. There are a lot of lists out there about what questions to ask a prospective employer in an interview. But, if you are interviewing for an executive-level position, you might want to prepare yourself with more specific questions related to the company.

Man Working

In this guide, we’ll go over the best and most relevant interview questions for executives. If you are recruiting for a position in product management, your questions will differ from an entry-level developer job or sales role. Generally speaking, you should have a few different types of interview questions in your arsenal. We’ll also offer advice on structuring your product manager interview questions  and answers so you can move smoothly from question to question and get the answers you need to make the best possible hiring decision.

Why Is It Important To Ask Questions In An Interview?

Before we jump into the questions, here’s a brief word on why you should ask questions in an interview. Of course, if you are interviewing for a position, there will always be things you don’t know about the company and what it does.

That’s why it is a good idea to have some basic questions at the ready that will help you gain insight into where you’ll be working, what the company is all about, and tell you more about the products they offer. Here are most important three reasons for asking a question in an interview are as follows:

  • It’s Two-Way Communication:

It is a two-way communication process, so the interviewer would be more likely to understand your company and its products better. The more they know about your company, there are more chances to hire you. So this would enable them to decide whether you want to move forward with you or not.

  • It Showcase One’s Research:

Whether you are interviewing for a strategy or a product management position, you should research the company so you can ask questions that show that you have done your homework. If someone has gone to the time and effort to figure out the type of questions they should be asking at an interview, it will tell the interviewer that they are highly dedicated and motivated.

  • It Shows Your Initiative:

When you ask questions, it shows that you are taking the initiative and demonstrating your initiative. In addition to showing interest in the position, the candidate is interested in working with the company and not just taking a job for some short-term money.

4 Best Questions To Ask At An Interview

Some people try to guess what questions to ask by nearly reading the resume, but this is the wrong way. One should research thoroughly before going for an interview. Showing that you have done your homework on a company is important as well. Here are some good questions that can help you interview the right candidate.

Question 1: Can You Tell Me What Main Challenges You Are Looking To Solve?

This is a straightforward question to ask in an interview. When you ask this question, the interviewer should be able to tell you what they are trying to solve with the products they offer. The candidate should be able to give you a brief overview of the company’s problem and how they are attempting to solve it. The answer to this question shows whether the interviewer has any experience in the field. Are they ready to face new challenges or not? Do they have the right attitude that you have been looking for?

Question 2: How Will Industry/ Sector Deal With The Main Challenges In The Next Five Years?

This question is for the interviewer to understand the broader view about what direction the company should move. With this question, you will realize the long-term scope of your business from the employer’s perspective. The interviewer would answer with the challenges they feel will affect the company in the next few years and how they plan to tackle them.

Question 3: In This Role, How Would You Measure The Success?

You should ask this question to the employer to understand what success means in their eyes. It also helps you to know how they will set targets for you. This question enables you to get a good idea about the company’s expectations of you. The interviewer would focus on your strengths and weaknesses to set some goals for you. So simply ask them what they think is the best way to succeed in this position and how they would measure your contribution.

Question 4: What Immediate Threats Can Be Faced By Business Or Sectors?

The question helps you to understand the company’s threats. This is useful to understand what they think cutting-edge technologies are and how they plan to cope with their product organization structure. It also helps you to get an insight into the industry, its strengths and weaknesses, and how it will evolve.

Final Verdict!

Though all the questions mentioned above are relevant to the interviewers and can help you get through the interview, one should be careful while asking these questions in an interview. You should know where to stop to ask a question and how to formulate it.

If you want to share some more interview questions, please post them in the comments below. I would love to hear from you!

Tips To Become A Head Of Product

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There are no hard and fast rules to becoming the head of the product. You might be from different backgrounds like communications, IT, marketing, or engineering. But you need to master a few skills like understanding the customers, product road mapping, and soft skills. The good news, as said by product manager recruiters, is you can become a product head by following a few tricks and hacks. Here we have come up with the recommendations of the experts to help you get ready for the position of product head. Without any further ado, scroll and find what you are looking for.

Women Interviewing

Think More About People

Becoming the head of the product requires you to focus more on looking after the product rather than managing it. Additionally, you need to empower your team more once you become the product head. It will help develop the right skills in your team so that they can carry out the significant tasks on their own. Consequently, it will lead to enhancing job satisfaction and motivation levels in them. For instance, you can show your team the methods to make effective product decisions and create a product roadmap using key performance indicators. 

Besides, you need to provide the right environment for your employees so that they can thrive. This position requires you to think more about the team and product management so that you can constructively address their issues and arrive at a solution. Leadership means serving others. So, you need to find it rewarding to support your product team to become the product head.  

Work On Your Leadership Skills

Developing strong leadership skills become more important when you are interested in the role of being the product head. You should have the following skills in you – 

  • Empathy – Try to understand the perspectives of the individuals who disagree with you or differ from your perspectives.
  • Listen actively – You should actively listen to others to understand them better. Give full attention to them.
  • Feedback – Offer constructive feedback to other people so that the receiver benefits from it. Additionally, deal effectively with the feedback or criticism that you receive from others.
  • Setting the goals – The best way to lead others is through shared goals and, at the same time, giving them the freedom to perform their tasks. 
  • Decision making – It is you who have to make important product decisions, including the development teams and stakeholders.
  • Time management – It is important for a high-level position to manage your time well and practice a sustainable pace. 

What is the best way to develop the above-mentioned skills? Manage a larger product together with a group of your product team without being their boss. If this is not possible, you can guide a group of stakeholders. 

Strengthen Your Core Product Management Skills

Being a leader is great but not the end of the story. In addition to being the guide and mentor, you had to have strong product management skills to fill the gaps in your product management knowledge. Let’s find out the capabilities you need to have – 

  • Create an inspiring vision for the product.
  • Keeping the product ethics in mind and carrying out the relevant product discovery work. 
  • Create and validate the product strategy, market research, and user research.
  • Forming the right key performance indicators and tracking the product performance. 
  • Deal with the product backlog like stocking and refining the product backlog items.
  • Work with the data and validate solution ideas. 

Having these strategic product management skills enhances your reputation as a product person amongst your team members. 

Know Your Industry

It is very important to have thorough information about the industry you deal with. You need to have the following information in your mind – 

  • Who are your customers, and what are their needs?
  • Who are the major competitors and players in the market?
  • What are your revenue sources?
  • What are the trends going on in your industry?

Having industry knowledge is like the icing on the cake that brightens to chances to attain the position of product head. 

Understand Different Roles And Responsibilities Of The Product

Not defining the roles and responsibilities make it difficult to achieve the goals. So, create the relevant job descriptions by properly defining the roles and responsibilities. You can conduct topgrading interview to have the best people in your team. All in all, it will make it easy to collaboratively manage the product team and product.  

To Sum It Up

Develop a realistic attitude toward the position of product head. Analyze what your skills are. See if there are any shortcomings and take steps to improve them. Follow the right development measures and have the right learning. Gain the relevant experience before moving on to become the product head of the product management team. You will indeed succeed if you follow the above-mentioned techniques. May you achieve the goals you set.

How Does A Product-led Approach Create A Better Customer Experience?

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A company needs to follow diverse business strategies to contemplate the user’s demands and needs in product development. The involvement of dynamism makes it harder to comprehend the newer tastes of consumers. Here, it’s important to base a product plan on the company’s software, i.e., product-led growth. It is a simple step to focus all attention on the product itself, circling its feature, performance, and virality. It demands adopting a new multidisciplinary approach at the core of product organization structure. When the product team emphasizes the product more, it becomes the sole differentiator of all go-to-market efforts. Sales and marketing teams have to reorient themselves to let the product lead the way. For instance, when a company offers a freemium product, the product act as a sales and marketing tool by attracting new users without incurring ad-campaign expenditures. Thus, it establishes a mechanism that allows users to have a product experience free of cost and implicitly encourages them to upgrade to paid versions.

Business Discussion

At first glance, product-led growth may sound like jargon, but those who work in product development are already familiar with the concept. Its primary focus is on user acquisition, expansion, conversion, and retention as a business strategy.

Secondly, being product-centric isn’t only about growth; it is about building a mindset to incorporate the entire user journey. Hence product-led becomes the core around which all other business functions orbit, making it a company-wide activity. Let us know more about the meaning of product-led in today’s scenario and what shape it can take in the future.

Product-Led Is For Every Enterprise

People in the product development industry often become the victims of a common myth that product-led is only going to work for established enterprises or software companies. However, the truth is that every company is transitioning into a software company, which debunks the myth and confirms the fact that every enterprise can benefit from product-led tactics. Product-led strategizing is a democratic way of looking at things from a different perspective. Every expert has gone through a phase where organizations were convinced that freemium sale tactics might not suit their purpose. It is a matter of fact that even before being introduced to any such strategies, they were already using many of them, such as product-augmented onboarding, contextual in-app support, etc. To understand the underlying usage of product-led techniques in real lives, let’s see a few examples:

  1. Guitars require an application for tuning, lessons, and recording the learning process.
  2. Minimal or zero interaction purchase of vehicle virtually from companies like tesla 

The above few examples prove how product-led has been taking over the center stage in the market, but there is no one-size-fits-all policy here. For instance, the latest covid pandemic has reformed the way users use to engage. The current user wants companies to interact with them according to their conditions. Thus, engagement and interaction have to be purposeful and intentional. 

Benefits Of Product-Led Strategies

Adopting a new strategy always puts the outcome in skepticism. However, the probability of benefits and disbenefits falls on equal terms. Hence, a product-led approach can help companies in the following ways:

  1. Enhance efficiency
  2. Become more Agile
  3. Effective onboard delivery
  4. Smooth -running of the sales process
  5. More contextual and timely cross-sell and up-sell communication with customers.

Experts say a product-led mindset can positively impact a company’s overall marketing capability. Still, they must note that product-led tactics work for the entire user journey from acquisition, activation, and adoption to renewal. The role of data, i.e., product analysis, growth analysis, and customer analysis, helps understand the user’s journey from marketing qualified leads to produce qualified leads. Using a data-driven approach helps in further understanding consumer behavior and product usage. For instance, the freemium strategy is one unique tool that may be valuable in converting free users into paid users.

Product-Led Is Innovative, Not Humanless.

A doubt often looms over product-led strategies that may replace the human element in the industry; however, the truth is far from it. In common parlance, these strategies may help augment the human touch by using humans in a more strategic, thoughtful, and high-value wave. That’s why it fosters customer relations. For instance, in-app support allows users to carry out tasks efficiently without being stuck. Moreover, product-centric clears space for more innovative thinking with quantitative and qualitative user analysis.

Next On The Plate For Product-Led Experiments

This question needs a comprehensive answer which can not be based on predictions due to the dynamic nature of the market. However, experts predict a great future for a product-led world. Read on to know more.

  1. It is hard to expect changes based on assumptions, yet a data-driven approach and a flexible mindset can create a gradual shift in customer preferences.
  2. It will be interesting to see people get along with the design-focused products. The adjustment toward in-product experiences is what product teams and group product managers need to get accustomed to.
  3. Another landmark change involves blending disciplines to allow different teams to become interdisciplinary.

Bottomline!

That sums up the current role of product-led strategies in product development and user engagement and the shape these strategies can give to the product-based market. It is a simple yet necessary description of what product-led growth is capable of bringing into the world of product development. Visit our website if you’re looking forward to learning more about product managers and how these tactics may help them.

What Is the Internet of Things (IoT)? A PM Perspective

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Technology is changing the way people behave, eat and live. A new industrial revolution is underway with an estimated 15 billion internet devices data. With better accessibility of the Internet, there are new demands which create the possibility to generate new things. The present market is utterly consumer-centric, and today’s consumer is highly dynamic. After every few days, there’s a change in trends making technology supply the newer demands. The Internet of technology is one such fastly growing technology, making tech companies adapt to this fast fashion. Every set of technology requires a specific team leader. For instance, a new york product manager at google may look to bring inclusive changes. In contrast, a PM in an Africa-based office will focus on creating better demand for their IoT products. Let’s now understand the basic meaning of the Internet of things.

Using I Pad

What Is The Internet Of Things?

In layman’s terms internet of things means the fusion of existing technologies. And, a layman thinks it is as simple as connecting a toaster and a coffee machine. But, the overall utility of IoT surpasses every definition. The previous argument is based on its functionality in tackling healthcare systems, transportation, food production, etc. It is a way of solving problems with modernized technology. This modern solution can be a smart grid, innovative farm, and anything but much more than just a smart toaster.

Internet of Things is making its footprints in many industries like water, waste management, smart buildings, smart homes, smart cities, the military, etc.

These examples clearly explain IOT’s definition, i.e., the Internet of things is a network of interconnected systems designed to address any specific application. IoT is not new but has provided robust, low-cost tech solutions, which were a dream a few decades ago.

What Is The Hype About The Internet Of Things?

Technology is based on utility; once the older tech product no longer serves the needs of consumers, its replacement process begins giving way to a more sophisticated product.

As far as IoT is concerned, companies need better product leaders who can identify, analyze and predict issues and opportunities. As a product manager, you need to analyze the present technology situation and set realistic goals without losing the scope for lateral thinking. You have to conceptualize and iterate, and your philosophy must be on pragmatism. Following are some general reasons for the widespread popularity of IoT products:

  • An exponential increase in computing power along with a cost reduction.
  • Decreasing the cost of data storage ability.
  • Increased efficiency of network bandwidth
  • Increased accuracy of sensors
  • New technologies like machine learning, AI, cloud computing are affordable.

What Is It To Be An IOT Product Manager?

Before going further into the role of an IoT product manager, have a basic understanding of IoT products. An IoT product combines hardware and software, estimation of real-world signals, connection to the Internet, transferring data to a localized place, and providing value to a customer. This definition of IoT products highlights the characteristics of an IoT product. A complex description signifies the challenging tasks a PM has to perform. Let’s have a closer look at these functions:

Fusion of hardware and software

A simple reason IoT products are so hard to manage is because of a cyber-physical interface of the systems. Every company specializes in either software or hardware, but current dynamics demand both. The struggle is real, but it is possible to bring a harmonious fusion of the system development with good leadership and skills.

Estimates real-world signals

IoT products have in-built sensors for measuring physical phenomena like sound, light, temperature, etc. this physical data is generated and aggregated with the help of machines. A product manager must have in-depth knowledge of colluding with these trends and teams associated with sensor technology.

Connection with the Internet

The very idea of establishing a connection with the Internet is that IoT products communicate via open and closed networks to send data to a centralized location. 

Aggregation of Data

An IoT product’s design is to collect data and save it at a centralized location for further analysis and processing. The data collection can be at any place, such as private and public clouds. However, some industries have to function with utmost secrecy and prefer on-premise solutions for such tasks.

Providing Value to a User

Today’s market solely relies on user experience. To build a reliable and credible brand identity, a company must provide value to its customers. That is, IoT products must solve the problems users need help with. Focusing on user experience is a must principle asked and questioned about even in a simple set of Product manager interview questions. Keeping your focus on solving a customer’s problem and analyzing the feedback will help you stay on the right path. Every product needs a good leader to carry forward the development process. Hence, the product manager’s ability to flexibly mold the goals per user demands will ensure safe growth for the company.

Overall!

The IoT trend will stay until a new and better trend slips in the market. This trend holds enough potency to solve today’s problems of businesses and people in general. With better affordability and accuracy, IoT products are taking over the sustainable market to help solve more significant issues related to the environment, energy security, waste management, etc. Still, you can have some questions about IoT and the role of a PM in this sector. Worry not and contact us for more insight into a PM’s role in the IoT sector.

5 Myths that Hinder the PM Hiring Process

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Product management is a field that is questioned by many business professionals. The reason is – it covers a wide range of tasks depending upon the organization. 

It is the role that is becoming significant for the success of the company. And many people are stepping into this field, which makes the hiring process of Product Managers a bit tedious. The best companies for Product Managers follow the hiring process to hire a suitable candidate for the position. But there are some myths that hinder the product Manager hiring process. If you are a Product Manager and want to hire the next big Product Manager for the betterment of your company, you need to be aware of those myths and hire the right fit for your company. 

Interview process

Let’s Take A Look At The Misconceptions In The Hiring Process Of The Product Manager. 

 

Product Managers Are The Mini CEOs 

There was a time when no one understood the way to describe product management. A Product Manager is like the CEO of the company who leads the team forward and is in-charge of the product vision. But here is the catch: Unlike the CEO, a Product Manager does not have any control over authority. 

Product Managers tend to develop products in emerging markets. But they don’t know the steps to partner up with the other brands. That being said, a CEO’s kits have all the necessary tools that a Product Manager doesn’t have access to. Since they don’t have direct authority, they leverage their influence and get the projects done.  

Must Have The Technical Expertise 

Product Managers perform their tasks keeping technological advancement and business in mind. They ensure that the product is going the right way. They communicate daily with engineers to ensure the issues and business requirements related to the product. There are some product management recruiters that demand technical expertise. But it is not always the case, and it varies from organization to organization. 

Product Managers And Project Management Are The Same. 

The Product Manager looks after the stages of product development. On the other hand, the Project Manager supervises the implementation of these stages. 

Once the product is released, it must be maintained. It should be reinvented after getting feedback from the customers. So, the third myth busted here is the Product Manager and Project Manager are not the same. 

No Fixed Educational Qualification 

You tend to hear a lot that you can’t major in product management in college. However, you can get closest to your dream by studying business management or computer science at the college level.

Nowadays, there are many online certifications in product management that you can master to achieve your goal. Experts are discovering more ways to build excellent future Product Managers. 

The Role Of A Product Manager Is Done Once The Product Is Launched Into The Market.

Many people believe that the Product Manager’s role is over once the product has reached the market. But that is not the case. In fact, experts feel that the actual role of the Product Manager just begins after the launch of the product to the market.  

A Product Manager becomes successful only when he collects the feedback of the customers and takes steps accordingly. He also pays attention to the statistics about the demands of the consumer. It makes them improve the roadmap for their next product. The Product Manager also evaluates how well the teams are getting along with each other. They take steps to improve the communication and workflow of the teams and determine which obstacles are hindering their way. After that, they discover ways to avoid those obstacles in the next stage of product development. 

What Makes You A Great Product Manager?

When hiring Product Managers, look for the following qualities:-

  • They very well boost the effectiveness of their team members. 
  •  They are oriented towards learning and executing the projects in a flawless manner.
  • They have strong command over product design and data and have a thorough knowledge of the technology. 

Product Managers step into the field of product management from different walks of life. If you have the ability, zeal, and passion for being a Product Manager, it is the right job for you.

To Sum It Up!

Undoubtedly, the field of product management is widely gaining recognition. In 2022, shake off these hiring myths and hire the best suitable candidate for your organization. 

We, at Palarino Partners, help find the best Product Manager for your organization so that you won’t face any problem in the hiring process. It will help avoid the most costly expense of your organization – a mis-hire. So, don’t let the above-mentioned myths hinder the hiring process for Product Managers and give Palarino Partners a chance to serve the best for you. After all, every organization wants its products to reach great heights. Get in touch with us for more information.

How To Approach Breaking Into Product Management: 3 Key Tips

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With changing market dynamics and customer base dynamics, there is an increasing need for professionals who work closely with a diverse team to deliver a product or service. The role of a product manager starts from the idea of a thing. The next step is to give form to this idea. Thus, product development involves a lot of thinking, analysis, re-thinking, etc. This continuous iterative process gives severe headaches to an ordinary employee, but a product manager copes with pressure easily. With the increasing demand, the companies want a professional to help them look at the build-up process of their product. That’s why product manager interview questions are so hard to crack. Before dwelling on the three essential tips, let’s learn a little about the types of product management interviews.


White Board Breifing

Common Types Of PM Interviews

A field as diverse as product management can involve a different set of interviews relative to the company’s scale and product. Nevertheless, the interviewer is trying to look into the brain and attitude of the candidate indirectly to judge if he fits the role at the respective company. An interviewer tests a candidate on these hard and soft skills like good communication, analytical skills, prioritization skills, etc. While skills are pretty similar, their application differs, which differentiates in interview type. Here we have discussed three types of interviews like 

Basic Product Sense

These interviews primarily focus on questions like describing your favorite product. It is a form of an unstructured interview focusing on generic description and critique methods of products.

Case-Study 

The product management interviews have evolved into more structured and specific product questions. Typically, these interviews want a candidate to develop a product strategy. The candidate must state his reasons for the proposed plan and give a brief analysis.

Cross-Functional

Product management is an interdisciplinary field with people from all professions. The primary purpose of these interviews is to assess how easily the candidate can collaborate with other teams.

No matter which type of interview you had, the essential criteria always test your soft and hard skills. That was about the interview type, but first and foremost is to understand if you fit into product management or not. 

Tips To Get Into The Role Of A Product Manager

Getting into product management is challenging. It would help if you had a great hand at performing diverse tasks and solving problems. Your interviewer is responsible for finding the best fit for the company and teams to lead the projects. Things are drifting in product management to elevate up from the old biases.

So, worry not and consider these tips to approach breaking into PM.

Understand PM’s Role

PM is not just a job; instead, it is an art of getting things done. If you are eager about breaking into PM, devote time to learn the craft of PM’ing. Learning about PMs’ role in a company, skills required, tasks executed by a PM, etc. These questions will help you dive into the job of PM as a beginner. Other things you can consider doing is:

  • Learning about some great PMs and their art of product managing
  • Getting in touch with a PM to understand their high-low career points as a PM
  • Ask questions by going away from the basic know-how types like working with cross-functional teams.

PMs interact with many professionals every day from all careers like engineers, designers, communicators, etc. Learning from a PM about their unique perspective will help you better understand this job profile.

Learn And Apply The Craft

After learning your PM lesson, it is time to practice it. You can start focusing on a product you love and looking for ways to improve it. Start by incorporating user research into your daily checklist. Because knowing about the pain points of existing users will help you analyze the prospective scope for changes. With a valid reason for the change, you can now move on to defining the new feature and, at last, determining its practicality.

This technique forces your mind to answer the why-question about a product and helps you learn how to make wireframes.

Deliver The Value

People often confuse the importance of value with ability. But, value generally sheds light on your professional career, like the projects you have worked upon, your productivity scale, etc. The best way to identify and then deliver value to the company is by sharing your work on social media platforms like LinkedIn. This pm-style work speaks volumes about your expertise and niche area. You can also add your research in the intro mail about your finished product manager jobs to give a quick inside view of your skills.

Conclusion

With this, it must be apparent that breaking into PM takes a lot of hard work from your side. A PM’s job search does not end with dropping a resume. Also, the role of a product manager does not end with product delivery only. A PM’s job is to take the product forward, even if there’s no clear way. Sounds complex, but everything gets easier once you get into the position.

 
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