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Ece İşel, Eray Tüzün, İzzet Gökhan Özbilgin, INVESTIGATING THE ROLE OF PRODUCT MANAGER IN SOFTWARE PRODUCT ORGANIZATIONS in:

Alptekin Erkollar (Ed.)

Enterprise & Business Management, page 293 - 310

A Handbook for Educators, Consultants, and Practitioners

1. Edition 2017, ISBN print: 978-3-8288-3814-7, ISBN online: 978-3-8288-6842-7, https://doi.org/10.5771/9783828868427-293

Series: Enterprise & Business Management, vol. 3

Tectum, Baden-Baden
Bibliographic information
293 Ece İşel | Eray Tüzün |İzzet Gökhan Özbilgin INVESTIGATING THE ROLE OF PRODUCT MANAGER IN SOFTWARE PRODUCT ORGANIZATIONS LEARNING OBJECTIVES The objective of this chapter is to explore, understand and investigate the role of Product Manager (PM) in software product organizations. Once you have mastered the materials in this chapter, you will be able to: • Understand the general concept of software product management • Understand the role and responsibilities of PM in the software product management context • Explore how PM role fits in with other roles in organizations • Walkthrough the roles of PM according to the different development phases in software development lifecycle CHAPTER OUTLINE This chapter explores the concept of PM role in software product organizations. Product management in general requires a broad perspective and management approach that considers multiple disciplines, such as technology, marketing, strategic planning and engineering, and interactions between these disciplines. Effective management of software products is crucial for the organization success. In this context, software PM plays one of the most important roles for the overall the success. Understanding and grasping the concept of PM role is often overlooked and still is a complex subject. In this chapter, first we have explained the roles and responsibilities of software PMs 294 Ece İşel | Eray Tüzün |İzzet Gökhan Özbilgin and identify the interactions with different roles in software product organizations. KEYWORDS Product lifecycle, product management, product marketing, role of product manager, software product management, software products 1 INTRODUCTION Today, most of the large and medium-sized technology companies are under pressure to offer their customers faster and better results than ever, due to compelling competition conditions and rapid technological developments. For this reason, it is obvious that these technology firms should take a close look at their approach starting from the beginning of the demand cycle and must keep pace with the customer-oriented product management. Also, when the competitive structure of the market is considered, the importance “Customer” concept emerges and it becomes an inevitable fact that companies must create new product ideas and developments entirely in the direction of “Customer”’s expectations. Product Management is defined as a strategic and business oriented management approach that is focused on delivering solutions to market needs. From company function perspective, product management can be defined as a company function that is responsible for strategic and tactical success for each product offered. Product management requires a broad perspective and management approach that considers multiple disciplines, such as technology, marketing, strategic planning and engineering, and interactions between these disciplines. These different disciplines define product management in a variety of ways and with their own perspective. A definition made by David Rainey from a marketing discipline perspective defines product management as “Product management is the approach used for managing existing products and services.” (Rainey 2005) A different definition of product management from a holistic perspective is described by Steven Haines as: “Product Management refers to the holistic management of products and portfolios, from the time they are conceived to the time they are discontinued and withdrawn from the market.” (Haines 2013) It is known that the definition of product management role differs from sector to sector and there are even differences in terms of role definition 295 Investigating the Role of Product Manager in Software Product Organizations and scope among firms in the same sector. However, these differences can also be related to the methods of the product management function. The PM is often considered the CEO of his products and he is responsible for setting up strategies for the product or product group, determining the product roadmap, and defining product characteristics. This list of responsibilities of the product planning activity area can be extended to include responsibilities of “Product Marketing” activity field such as product positioning on the market, implementation of marketing plans, monitoring of competing products and PM role can include many activities from strategic level to tactical level. PMs often analyze market and competition conditions and identify a product vision that can deliver a unique (authentic) value that can respond to customer requests. Nowadays, it is often seen that PMs are working in software companies that deliver products or technology for their customers. In this study, the role of the PM in the software world will be examined and the basic concepts in the concept of product management will be explained. PM roles will be compared in different aspects to other roles in the software world. The rest of the chapter is organized as follows, in Section 2 we have defined the product management. In Section 3, we have explored the concept of product manager, by giving an overview, discuss the ideal skill set, and in Section 4 mention typical roles of PM according to the phases of the product lifecycle. 2 WHAT IS PRODUCT MANAGEMENT? Product management can be defined as a company function that is responsible for strategic and tactical success for each product offered. Product management emerges as a professional field that includes two professional disciplines named “product planning” and “product marketing”. Product functionality is created for the end user through product planning. The value of the product is transferred to the buyer through product marketing. Product management as a professional field that focuses both on product planning and product marketing and is also based on various management techniques. (Steinhardt 2010) A different definition of product management from a holistic perspective is described by Steven Haines as: “Product Management refers to the holistic management of products and portfolios, from the time they are conceived to the time they are discontinued and withdrawn from the 296 Ece İşel | Eray Tüzün |İzzet Gökhan Özbilgin market. In essence, Product Management is the business management of products. (Haines 2013) In companies, each department has a certain level of expertise and they perform various tasks in order to be successful. Developers develop solutions that solve customer problems. Marketing specialists work to create product value and communicate with customers to maximize awareness and interest in products and services. Sales specialists are responsible for closing the sale of products to customers. The operations teams ensure that the solution is delivered efficiently and at low cost and the company works as cost-effectively as possible. Customer support teams help solve customer problems quickly. Product management seems to have a holistic viewpoint in this picture. While it appears that product management is at the heart of all company departments, it is also in contact with other external stakeholders, such as customers, press, analysts and partnerships. Product management is a group that takes responsibility for all aspects of the product and understands how all parts come together to achieve the product’s success. In order for the product to be successful, short-term tactics should be applied and a product strategy should be established to extend this success to a longer period. (Lawley and Schure 2017) Product management not only defines the vision for the product, but also includes understanding the product market, targeting customers and working with the product team to make the product more attractive. Today, companies with a successful product management seem to have a much higher success rate. The business environment includes social, economic, political, regulatory, market and technological forces that bring about various opportunities and challenges that can lead to changes in the organization. Social and economic forces have significant impacts on stakeholders and other elements of the organization. Political and regulatory factors set the various criterias and conditions that must be included in the new product development process in order to guide the need for new products and to ensure that all legal requirements are met. Market forces generally affect the applicability of existing products on the market. Changing market conditions and trends may create new conditions that can not be satisfied by existing products. Such changes will affect the life cycle of existing product offerings and create numerous opportunities for new products. Technological forces offer new ways and tools to meet customer and stakeholder needs and to enable new products to 297 Investigating the Role of Product Manager in Software Product Organizations be produced by customers. All of these forces provide opportunities to meet the needs of the business environment by producing new solutions, thereby speeding up the introduction of new products. (Rainey 2005) Product management includes technical and marketing functions that enable the organization to present products and services to existing customers and new markets. In addition, product management can provide information and data to support new product requests. Nowadays, especially in high technology companies, every company sees and carries out product management activities in many different ways. This leads to a lack of standardization of the product management discipline. In order to ensure the success of companies, it is necessary to have a consistent understanding of product management and to deal with all aspects of product management. Product management is a combination of activities that deeply impact the success of a product. For example, addressing wrong market requirements, non-realistic pricing, or misidentified target market can lead to adverse and critical consequences. Another thing to be aware of in product management is that even if one of the faulty conditions occurs, it can greatly reduce the success of the product. (Steinhardt 2010) Companies with formal and well-defined product management practices are companies that realize that product management is a key strategic function for the organization. These companies try to make sure that the product management processes are properly run and applied. There may not be an excellent product management process behind all product successes. Some products are successful because of external factors, timing or just strong capital. However, it is clear that many product failures are driven by poor product management. (Steinhardt 2010) The key to commercial success of products in the high-tech world is to blend effective product management methodology with disciplined technology development practices. Product management discipline and profession has reached a greater level of maturity and acceptance in the high-tech industry. One of the ways to implement product management effectively is to become a market-oriented organization. In order to gain market-oriented status, a company must implement a proactive product management process and engage and listen to its customers before the product is planned, defined, designed and developed. 298 Ece İşel | Eray Tüzün |İzzet Gökhan Özbilgin 3 WHO IS A PRODUCT MANAGER? 3.1 HISTORY OF PRODUCT MANAGEMENT The concept of product management has been the focus of business managers and decision makers since the 1930s. Execution of the product management profession by individuals from different disciplinary expertises has led to the definition of “coincidental” for the profession. Product management was first implemented in the fast-moving consumer goods sector in 1931 as a management approach. In the fast-moving consumer goods sector, it is seen that the concept of PM and brand manager are used simultaneously because each product is named with a different brand and launched to the market. (Lawley and Schure 2017) In the early 1950s and 1960s, with the influence of rapid economic growth, many companies in the fast-moving consumer sector put their product management philosophy into practice with the introduction of new products to the market. In the 1970s and 1980s, product management focused more on new production technologies and on cost reduction in production. The market conditions of the 1990s have caused competition wars. Companies have been tempted to think about new product development and new market creation, and product management has been considered together with “new product development”. 3.2 PRODUCT MANAGER’S ROLE Today, the traditional product management approach has almost entirely changed as a customer-focused product management approach. Companies create new products completely in line with the expectations of their customers. Customer expectations and satisfaction are among the most important success criteria for companies. With this new approach, the market life of the products is getting shorter and shorter. PMs play a unique role in an organization. (Lawley and Schure 2017) They: Investigate and discover market / customer needs and customer preferences, • Create the vision of the product. • Transfer this vision to the rest of the organization. • Define and prioritize the business outcomes needed to achieve the vision. 299 Investigating the Role of Product Manager in Software Product Organizations • Obtain the resources to build and maintain the product. • Work with the development team to translate market / customer requirements and business outcomes into features. • Interact with all stakeholders to ensure product success. Many organizations switching to the product management model are slightly moving away from the traditional project manager concept and allowing the PM and the self-organizing teams to manage the details in an effort. The role of PM adds value to the firm by filling in some areas where it is difficult for many organizations to fill. PMs have field expertise and are directly responsible for the success of the product. However, program management may take place at a certain level in order to be able to cope with conflicts on resources. Product management provides cross-functional leadership - interconnecting the different functions within the company, especially between engineering-focused teams, sales and marketing and support. (Lawley and Schure 2017) The PM is often considered to be the CEO of his products, but he is also responsible for setting up strategies for the product or product group, determining the product roadmap, and defining product features. This list of responsibilities for product planning activities can be expanded to include responsibilities of “Product Marketing” activity field such as product positioning on the market, implementation of marketing plans, monitoring of competitors’ products. The role of PM can include many activities at strategic and tactical level. PMs often analyze market and competition conditions and identify a product vision that can deliver an original value that can respond to customer requests. Customers have an important list of your product that includes product features and functions, as well as any non-interest items. These additional features of your product are called the augmented product. They should be aware of the product promises and how the augmented product meets those promises. It is the responsibility of the PM to work on any disconnection between customer experience and product promises. (Lawley and Schure 2017) Product managers should plan how to execute that vision through product iterations, design, roadmaps, and features. He should zoom in to the fine detail, where there’s working with the development, and other teams. PM must remove the obstacles in the path of the product realization while keeping the overall plan on track. PM also should work with the marketing and sales teams to plan 300 Ece İşel | Eray Tüzün |İzzet Gökhan Özbilgin and execute the product launch. After the launch, the success of the product should be measured and the necessary actions should be taken. PMs can perform these activities over and over again within the target of product realization. 3.3 PM’s SKILLSET The scope of tasks of PMs includes a broad range of skills. However, there are several key components and areas that are summarized below, it is observed that PMs who have experience, knowledge and skills have been observed to be more successful. (Lawley and Schure 2017) ▷ Domain Expertise: PM is an expert in domain area. He knows customers and business. ▷ Leadership skills: PMs demonstrate good leadership skills. ▷ Operational capability: PMs may need to deal with operational details to manage a product. ▷ Communication Skills: PMs communicate very frequently. They should respond quickly to problematic situations through excellent written and verbal communication skills. ▷ Impact on Stakeholders: PMs use communication skills and more to engage and bargain with the many stakeholders. They show excellent team work skills. ▷ Analysis Skills: PMs demand, formulate and deduce meaningful results from quantitative and qualitative data. ▷ Empathy: PMs show great deal of empathy for their customers and for all of their stakeholders. ▷ Future thinking: PMs can see the future for existing products and new product ideas, and they can create almost concrete visions. The activities and primary responsibilities of the PM are given below. • Creates the product vision, strategy and roadmap. • Collects, manages and prioritizes market / customer requirements. • Acts as a customer advocate, expresses the needs of the user / buyer. 301 Investigating the Role of Product Manager in Software Product Organizations • Works closely with engineering, sales, marketing and support to ensure business objectives and customer satisfaction goals are met. • Has technical product knowledge or specific domain expertise. • Establishes the market needs document and specifies which problems will be solved on the market. • Provides beta and pilot programs for products and samples. • PM is a market expert. Market expertise involves understanding the reasons customers buy their products. This means a deep understanding of competition and how customers think and buy a product. • Acts as product leader within the company. • Develop a positioning strategy for the product. • Assists to determine product pricing by providing information. • Works closely with the product marketing department. • Explores competitors’ products. • Prepares product demos. • PM is the central point of contact for the product within the company. • Makes sure that the sales professionals get the required training for the product. • Conducts customer research and market analysis, generates new ideas for new products or features, and prioritizes those ideas. • After the product idea is selected, PM plays an active role in the realization of the planning phase. In order to support the company’s strategic and financial goals, PM performs a comprehensive study around the concepts of market strategy, customer needs. • Informs the engineering team of market requirements and ensures that the product produced can solve the problems of their customers. • Works with external customers to verify whether the product is officially ready to be marketed on the market. 4 PM ROLE BY PHASES The development of a product will start with the concept. Market research will be performed and market opportunities will be identified. 302 Ece İşel | Eray Tüzün |İzzet Gökhan Özbilgin Ideas can come from many different directions. They will be evaluated and prioritized and best ideas will be selected. Value proposition and positioning statements should be developed for selected idea. The activities that are performed by Product Management roles in Concept phase are listed below. • Segment markets and identify market opportunities. • Define customer targets and assess customer needs. • Identify customer problems. • Detect industry trends. Uncover opportunities / generate ideas. • Enter ideas into the repository and classify them. (New product, new product feature, product enhancement) • Evaluate and prioritize the ideas. • Assessment of strategic alignment and establishment of strategic baseline. • Select the ideas to move forward with. • Produce opportunity statement for selected idea / s. • Develop value proposition for selected idea / s. • Develop positioning statement. • Evaluate competitors and compare competitor products. • Configure product SWOT. • Present all of the information and recommendations to the comittee. (For go / no go decision) Feasibility phase will ensure that ideas are tested for their viability. The voice of customers’ data will be gathered and analyzed. Buyer personas will be created to understand the potential customer. Also first drafts of the business documents should be written. In essence, it is time to carry out in-depth research and analysis. Let’s list the activities that are performed by Product Management roles in Feasibility phase. • Develop a plan for collecting voice of the customer (VOC) data. • Gathering the voice of customers’ data. • Analyzing voice of the customer (VOC) data. • Define the market segmentation, identify and verify the target markets. • Define buyer personas to understand the potential customer. • Further verify and clarify Value Proposition. 303 Investigating the Role of Product Manager in Software Product Organizations • Perform full competitor analysis (competitive products, potential competitive products, competitors, and competitor capabilities) • Develop / recommend product pricing strategies and structures. • Identify / recommend the distribution channels. • Perform ROI (Return on Investment) analysis. • Create sales or market share projections. • Develop first draft of Business Case document. • Develop first draft of Marketing Requirements Document (MRD) initiated to articulate the characteristics and capabilities of the product. • Assist for developing first draft of Product Requirements Document (Product Description Document) (PRD) to define features and functionalities. • Develop first draft of Product Roadmap Document. • Develop first draft of Market Strategy Document. (Prepare go-to-market strategy and launch plans that outline in detail how the product will be sold.) • Review the positioning statement and expand upon where necessary. • Create prototypes. • Present all of the information and recommendations to the comittee. (For go / no go decision) In “Product Definition” phase, business analysis will be performed with subject matter experts and customers. An important focus during this phase is finalizing business documents (Market Requirements Document, Product Requirements Document, Business Case etc.) that specify the product in detail. Also, product brand and product logo should be defined in definition phase. In the next phases, product will be developed and launched. The activities that are performed by Product Management roles in Product Definition phase are listed below. • Perform business analysis with subject matter experts and customers. • Work up for detailed user / customer / buyer personas. • Identify and quantify resources. • Finalize business case once all this data is gathered and analyzed. 304 Ece İşel | Eray Tüzün |İzzet Gökhan Özbilgin • Finalize market research and MRD — Market Requirements Document • Fully define product requirements and finalize PRD - Product Requirements Document • Finalize product roadmap document. • Put the technical specification together and finalize SRS - Software Requirements Specification Document • Finalize market strategy document. • Conduct Make v. Buy analysis. • Define product launch readiness and success metrics. • Test and validate product idea. (the minimum viable product or rapid prototyping) • Define product brand. • Define product logo. • Define the tools that will be used to gather customer feedback during development. • Define product launch readiness and success metrics. • Start to think over sales tools and marketing collateral (e. g. demos, presentations, brochures, data sheets). • Communicate product roadmap and requirements documents and / or the SRS with team members. • Communicate product / marketing plans and strategy with management and get approval. The Product Launch and Development phases are often simultaneous phases. The workload on the Product Launch Phase increases as the workload on the Product Development Phase declines. PM should collaborate with team on product definition and execute product roadmaps. PM also provides leadership to the development team. The activities that are performed by Product Management roles in Product Development phase are listed below. • Collaborate with team on product definition and product roadmaps. • Execution of the product roadmap. • Write and finalize Beta Test Plan. 305 Investigating the Role of Product Manager in Software Product Organizations • Communicate requirements (e. g. prepare use cases, scenarios) in a way that is unambiguous and easily understandable to both development / engineering. • Provide leadership to the development team. • Monitor and track the progress of the product development against all plans including the business case, the PRD and so on. • Hold regular cross-functional and executive board status meetings / updates. • Monitor market at all times for any changes that may impact the product. • If any relevant changes are perceived then act upon them immediately. (e. g. Change prioritization of the features to implement. Update product roadmap.) • Monitor the change control process. • Update existing customer related documentation or the producing of new documentation. • Make sure that the product is tested and complies with all requirements. • During development, gather needed customer feedback from prototypes or mock-ups and communicates the results of this feedback to the appropriate team members. • Arrange the training dates for beta test programs, customer training and / or internal training programs or test market programs for the product. • Execute and complete any required beta test programs, customer training and / or internal training programs or test market programs for the product. • Assess the results of usability testing, beta testing and test marketing and takes appropriate corrective action. • Write and finalize launch plan. • Identify product enhancements and line extensions. • Update documents and finalize feature list. • Generate user manuals, training materials and other documentation. • Monitor product launch readiness and success metrics. • Evaluation of the progress and its environment to see if any elements put the launch at risk. 306 Ece İşel | Eray Tüzün |İzzet Gökhan Özbilgin The activities that are performed by Product Management roles in Product Launch phase are listed below. • Review all the documentation and update business documents if necessary. • Write Marketing Plan • Produce sales enablement materials that help reps close more deals. (Blog Posts, Whitepapers, Case Studies, Product Sheets, Competitor Comparisons, Presentations, Social Messages) • Set market window or announcement date. • Make announcement of the product to the market. • Executing product launch strategies. • Produce sales, customer services, channel partner and for key customers training materials. • Arrange the training dates for sales, customer services, channel partner and for key customers about products and solutions • Create launch content including everything from demo decks to product website, landing pages. • Create Marketing Communication materials to support the product / product line (specific media, the public relations activities, the direct mail programs, the collateral materials, the publicity events) • Implement the marketing plan. • Align the marketing effort to ensure that all parties can deliver in time for the launch. • Complete all training activities for sales, customer services, channel partner and for key customers • Create industry trade show strategy. • Provide product communication to a wide variety of audiences i. e. customers, senior management, internal groups, analysts, social media, the press and internal departments and at industry events. • Take part fully in a range of industry events including: conventions, panels, forums. • Submit and present white papers to establish the businesses leadership in the marketplace. • Ship the product. • Start to monitor marketing and sales. 307 Investigating the Role of Product Manager in Software Product Organizations After launch of the product, post-launch product management activities should be performed. This is called “Growth — Maturity — Decline” and usually the longest phase of the product lifecycle. The main act of the Post-Launch phase is to run the day to day operational and monitoring processes. Let’s see the activities that are performed by Product Management roles in Post-Launch phase. • Conduct post-launch audits by looking at all the project plans and documentation. • Analyze whether or not the plan was achieved and what disconnects there were. • Look at whether each goal describe across each document was met. • Check out whether or not the assumptions that were made in the business case proved to be correct. • Review the financial performance of the product against the forecasts made. • Share the results throughout all levels of the project team. • Support the sales process (e. g. provide product sales expertice, input for RFPs). • Hold cross-functional team meetings or workshops to discuss the lessons that need to be learned. • Run the business with all the day to day operational and monitoring processes that involves. • Promote the product externally with press, customers, and partners. • Support the sales team, attending industry conference, forums, events and writing articles or white papers • Monitor marketing mix strategies, change the marketing mix as required and optimize. • Review and analyze P&L, balance sheet and cash flows. • Review, sustain and extend the product as necessary and monitor the market and competitors. • Gather customer feedback, visit customers, act as a point of contact for issues arising. Track customer satisfaction. • Addressing complaints and resolving problems. • Identification of new target markets. 308 Ece İşel | Eray Tüzün |İzzet Gökhan Özbilgin • Continually monitor the marketplace, customers and competitors and industry development. • Maintain product and market knowledge. Perform analyses of market trends. • Monitor metrics and KPIs and evaluate the results. • Conduct win-loss studies. • Analyze product profit and loss. • Refine value based pricing. • Evaluate channel performance. All products have a lifetime and need to start being phased out from the market eventually. PMs should determine when the product needs to be withdrawn from the market by monitoring financials. The normal indicators for the product being in decline are, declining sales, loss of market share, revenue from the product is minimal, and the product no longer aligns with the businesses goals. Let’s see the activities that are performed by Product Management roles in End of Life phase. • Issuing of legal notices to customers, partners. • Give the final support date for the product and any information that may be required. • Discontinue marketing efforts. • Narrow down the distribution channels. • Alter pricing to a higher level to discourage new purchases. • Phase out of the product. REFERENCES Haines S. The PM’s Survival Guide: Everything You Need to Know to Succeed as a PM, New York: McGraw-Hill Education, 2013 Haines S. The PM’s Desk Reference 2E, New York: McGraw-Hill Education, 2014 Lawley B., Schure P. Product Management for Dummies, New Jersey: John Wiley & Sons, Inc, 2017 Rainey D. L. Product Innovation: Leading Change through Integrated Product Development, Cambridge, England: Cambridge University Press, 2005 Steinhardt G. The PM’s Toolkit®: Methodologies, Processes, and Tasks in Technology Product Management (Management for Professionals), 2nd ed. Berlin, Germany: Springer International Publishing, 2017 309 Investigating the Role of Product Manager in Software Product Organizations KEY TERMS PM Product Life Cycle Product Management Software Product Management Software business Product Management Frameworks Product Marketing Software Products QUESTIONS FOR FURTHER STUDY 1. Describe the top 5 responsibilities of a product manager. 2. Compare and contrast role of Product owner, role of Project manager, and role of Product marketing manager. 3. What are the main phases in new product development? Briefly explain each of the phase. 4. In your opinion, what are the top 3 skills to be a successful product manager? EXERCISES Suppose you are hired as a PM in a software product organization. The product you took over is in the launch phase. Previous PM will be with you for your orientation. What kind of information would you ask to the previous PM? Describe also your short-term strategy when you take over the position. You are a PM in a software product organization. The development team is asking for an advice from you on selecting the proper software development methodology. Would you use Waterfall methodology to develop the system, or would you prefer one agile software development methodologies? Compare and contrast the advantages and disadvantages of each approach from the product management point of view. You are a CEO of a software product organization. You need to hire a PM for one of your e-commerce software products. Write a complete job ad to hire someone for that position. Make sure to include what 310 Ece İşel | Eray Tüzün |İzzet Gökhan Özbilgin skills and experience you require for the position. Describe the general requirements for that position as well. FURTHER READING Crawford C. M., Benedetto C. A. D. New Products Management, New York: McGraw-Hill Education, 2014 Geracie G. Take Charge Product Management, Chicago: Actuation Consulting (Actuation Publications), 2013 Geracie G., Eppinger S. D. The Guide to the Product Management and Marketing Body of Knowledge: ProdBOK(R) Guide, Nevada: Product Management Educational Institute, 2013 Haines S. The PM’s Survival Guide: Everything You Need to Know to Succeed as a PM, New York: McGraw-Hill Education, 2013 Haines S. The PM’s Desk Reference 2E, New York: McGraw-Hill Education, 2014 Lawley B., Schure P. Product Management for Dummies, New Jersey: John Wiley & Sons, Inc, 2017 Lawley B., Cohen G., Lowell L. 42 Rules of Product Management: Learn the Rules of Product Management from Leading Experts around the World, 2nd ed. Super Star Press, 2012 Osterwalder A., Pigneur Y. Business Model Generation: A Handbook for Visionaries, Game Changers, and Challengers, New Jersey: John Wiley and Sons, 2010 Pichler R. Strategize: Product Strategy and Product Roadmap Practices for the Digital Age, England: Pichler Consulting, 2016 Rainey D. L. Product Innovation: Leading Change through Integrated Product Development, Cambridge, England: Cambridge University Press, 2005 Ries E. The Lean Startup: How Today’s Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses, New York: Crown Publishing Group, 2011 Steinhardt G. The PM’s Toolkit®: Methodologies, Processes, and Tasks in Technology Product Management (Management for Professionals), 2nd ed. Berlin, Germany: Springer International Publishing, 2017

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Abstract

The development of information technology has sped up the importance of management information systems, which is an emerging discipline combining various aspects of informatics, information technology and business management. Understanding the impact of information on today’s organisations requires technological and managerial views, which are both offered by management information systems.

This publication takes an interest in the cooperation of business management and management information systems. Its contributions focus on both research areas and practical approaches, in turn showing novelties in the area of enterprise and business management. Main topics covered in this book are technology management, software engineering, knowledge management, innovation management and social media management. This book adopts an international view, combines theory and practice, and is authored for researchers, lecturers, students as well as consultants and practitioners.