1.5: Product Management in a Modern World - Video Tutorials & Practice Problems

<v ->So what is product management in a modern world?</v> Nowadays, product management grew into its own separate discipline and became the key to the success and rapid growth of Google, Facebook, Amazon, Netflix, and of course, Apple. In 2005, Marty Cagan wrote a paper called Hot To Write a Good PRD, PRD being the product requirement document. And this became a guideline for the Silicon Valley product managers. Marty discussed the concept of customer centricity, spoke about the need for prototyping and validation hypothesis and, most importantly, explained how important how it is to focus on customer problem versus the solution. That was a revolutionary thought. Start from the customer, understand the problem and suggest the solution to customer problem versus coming up with a great idea that customers may not be interested in. Marty signaled an important shift from outputs to outcomes and now to impacts, customer impacts. He published two foundational product management books Inspired in 2008 followed by Empowered in 2020. With the success of Apple products, Steve jobs became and still remains the iconic product manager. His unique mix of business technology and design skills and intuition, something that Steve Jobs himself called the intersection of technology and liberal arts, made him such a unique success. And this mix of skills is precisely what makes a great product manager. Widely considered a visionary and a genius, Steve Jobs oversaw the launch of revolutionary products such as iMac show on this slide, iPod and the iPhone. The impact of product management and product managers grows significantly starting from large technology companies to startups and now even large traditional financial services companies. This is one of the hottest skills in today's job market.