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Strategic Execution for Product Managers

How can we move from being reactive and operational to executing on a clear strategy?



Summary


  • Strategic execution involves proving that product efforts are based on strategy, not just being reactive.

  • Start with a clear definition of success, based on goals (general) and objectives (measurable and time-bound).

  • Success should be balanced across multiple aspects like financials, customer relationships, and thought leadership.

  • Validate the definition of success with key stakeholders (leadership, sales, engineering).

  • Develop a strategy that outlines the course of action to achieve success, considering different paths for goals (e.g., increasing revenue vs. reducing costs).

  • The strategy should exclude alternative paths, clarifying what the team won’t do.

  • Create a roadmap that demonstrates how value will be delivered, mapping each item to the strategy and definition of success.

  • Ensure continuous alignment with stakeholders throughout the process to avoid disconnects and adjust based on feedback.

  • Consider the organization's values, brand, and competencies when defining success and strategy.

  • This approach leads to strategic execution, combining aspiration (vision) with action (roadmap).


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