Book Image

Lean Product Management

By : Mangalam Nandakumar
Book Image

Lean Product Management

By: Mangalam Nandakumar

Overview of this book

Lean Product Management is about finding the smartest way to build an Impact Driven Product that can deliver value to customers and meet business outcomes when operating under internal and external constraints. Author, Mangalam Nandakumar, is a product management expert, with over 17 years of experience in the field. Businesses today are competing to innovate. Cost is no longer the constraint, execution is. It is essential for any business to harness whatever competitive advantage they can, and it is absolutely vital to deliver the best customer experience possible. The opportunities for creating impact are there, but product managers have to improvise on their strategy every day in order to capitalize on them. This is the Agile battleground, where you need to stay Lean and be able to respond to abstract feedback from an ever shifting market. This is where Lean Product Management will help you thrive. Lean Product Management is an essential guide for product managers, and to anyone embarking on a new product development. Mangalam Nandakumar will help you to align your product strategy with business outcomes and customer impact. She introduces the concept of investing in Key Business Outcomes as part of the product strategy in order to provide an objective metric about which product idea and strategy to pursue. You will learn how to create impactful end-to-end product experiences by engaging stakeholders and reacting to external feedback.
Table of Contents (19 chapters)
Lean Product Management
Contributors
Preface
Another Book You May Enjoy
Index

The need for gratification


Instant gratification can be same-day deliveries, self-checkout lanes, superfast streaming speeds, instant cab hailing at our fingertips, and so many more services, which have created in us an inability to wait. "I want it, and I want it now," has become the default stance of the consumer today. A study by Associate Professor Ramesh Sitaraman and collaborators at Akamai demonstrated that viewers begin to abandon a site if the video does not start up within two seconds. Beyond two seconds, every additional one-second delay resulted in roughly a 5.8% increase in the abandonment rate (https://www.cics.umass.edu/news/latest-news/research-online-videos).

The need for instant gratification has influenced not only how products and services are built but also our ability to think about long-terms goals. The hard part for us to reconcile is that overnight successes took decades in the making. Speed is paramount in an ever-changing business landscape and to navigate this...