Product Management lies at the heart of Innovation

Posted in Collaboration, Culture, Innovation, Leadership, Marketing, Organization, Product Management, Saeed, Startups, Uncategorized - 30 January 2011 - 48 comments

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By Saeed Khan

Ask 10 people for a definition of the word “innovation”, and you’re likely to get 10 different answers; maybe more depending on who you ask. Don’t believe me? Watch this video

I don’t like the dictionary definition of innovation. It’s shown at the beginning of the video – “the introduction of something new”. Yes, from a pure linguistic perspective, that may be accurate. But when we think of society, of business and bringing change to it, that definition is inadequate.

My definition of innovation focuses not on the technology or the invention itself, but on bringing it to market so people can benefit from it. Creating a better mousetrap is invention. Getting that mousetrap into people’s homes so they can catch mice more effectively is innovation. It comes down to making a distinction between invention and innovation and understanding that distinction.

And just to be clear — the difference is not about simply marketing or selling the invention. It’s about inventing things that solve people’s problems, and then getting those inventions into the hands of the people who can benefit from them, and ultimately improving their lives or experiences.

Now look around the society we live in. In a competitive, technology-centric culture, like the one we live in, innovation is top of mind for most companies.

Look at the Annual Reports of large companies, and you’ll see that word. Here’s an excerpt from the 2009 10-K of of one large company.

We are dependent on market acceptance of new product introductions and product innovations for continued revenue growth.

The markets in which we operate are subject to technological change. Our long-term operating results depend substantially upon our ability to continually develop, introduce, and market new and innovative products, to modify existing products, to respond to technological change, and to customize certain products to meet customer requirements. There are numerous risks inherent in this process, including the risks that we will be unable to anticipate the direction of technological change or that we will be unable to develop and market new products and applications in a timely fashion to satisfy customer demands.

Read that description and look at the words I highlighted. Do those words sound familiar?

And here’s another video (focused on GE) that talks about the difference between invention and innovation. Listen to the whole thing, but most carefully around the 1:20 mark of the video.

Note yet again, the contrast between invention - what goes on in the engineering lab — and innovation – creating something people are willing to pay for. Although the two are related, clearly innovation requires an understanding of market and customer needs and how to apply the technology to address them. And what else is that but fundamental product management?

Saeed

Tweet this: @onpm Product Management lies at the heart of Innovation http://wp.me/pXBON-23D #prodmgmt #innovation #leadership

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saeedwkhan says:
January 31, 2011 at 5:10 am
New post: Product Management lies at the heart of Innovation http://wp.me/pXBON-23D #prodmgmt #innovation #leadership
Reply
brainmates says:
January 31, 2011 at 5:13 am
Love it & Agree @saeedwkhan Product Management lies at the heart of Innovation http://wp.me/pXBON-23D #prodmgmt #innovation #leadership
Reply
ProdMgmt Talk says:
January 31, 2011 at 5:40 am
RT @brainmates: Love it & Agree @saeedwkhan Product Management lies at the heart of Innovation http://wp.me/pXBON-23D #prodmgmt #innovat …
Reply
Ben Shoemate says:
January 31, 2011 at 6:14 am
RT @brainmates:Love it & Agree @saeedwkhan Product Management lies at the heart of Innovation http://wp.me/pXBON-23D #prodmgmt #innov…
Reply
Peter Haywood says:
January 31, 2011 at 7:03 am
RT @brainmates: Love it & Agree @saeedwkhan Product Management lies at the heart of Innovation http://wp.me/pXBON-23D #prodmgmt #innovat …
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Wilco van duinkerken says:
January 31, 2011 at 7:16 am
Product Management lies at the heart of Innovation http://t.co/mM1Su7J
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lmckeogh says:
January 31, 2011 at 11:56 am
Saeed, I agree that product management lies at the root of innovation. I just created a similar post calling for more focus when using this broad and loosely defined term. The product manager needs to force that focus 360 degrees in order to ensure everyone understands what the result will be.
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- Saeed says:
  January 31, 2011 at 4:15 pm
  Larry
  Thanks for the comment. Agreed that the word “innovation” is incredibly loosely defined. But it’s a great word. Who doesn’t want to be “innovative”? I think that’s one of the reasons why there are so many failed attempts at “innovation” inside companies. Start with a loose definition, throw in some innovation mantras from consultants, create a task force, and then watch it fail.
  Product Management is the discipline that can help companies be more successful when they try to be “innovative”. While there is no guarantee of success, it does raise the odds significantly.
  Reply
Steve Johnson says:
January 31, 2011 at 1:56 pm
RT @saeedwkhan: New post: Product Management lies at the heart of Innovation http://wp.me/pXBON-23D #prodmgmt #innovation #leadership
Reply
Vibhuti Ranjan Singh says:
January 31, 2011 at 2:25 pm
RT @sjohnson717: RT @saeedwkhan: New post: Product Management lies at the heart of Innovation http://wp.me/pXBON-23D #prodmgmt #innovati …
Reply
Jamie van der Hagen says:
January 31, 2011 at 2:31 pm
Great read on where innovation originates within business. http://lnkd.in/9_3nd5
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Jim Holland says:
January 31, 2011 at 3:20 pm
Great post today by @saeedwkhan "Product Management lies at the heart of Innovation" http://wp.me/pXBON-23D #prodmgmt #innovation
Reply
John Peltier says:
January 31, 2011 at 4:09 pm
Well put. RT @saeedwkhan Product Management lies at the heart of Innovation http://wp.me/pXBON-23D #prodmgmt #innovation #leadership
Reply
Jeff Windsor says:
January 31, 2011 at 4:26 pm
RT @johnpeltier: Well put. RT @saeedwkhan Product Management lies at the heart of Innovation http://wp.me/pXBON-23D #prodmgmt #innovati …
Reply
ProdMgmt Talk says:
January 31, 2011 at 4:31 pm
RT @johnpeltier: Well put. RT @saeedwkhan Product Management lies at the heart of Innovation http://wp.me/pXBON-23D #prodmgmt #innovati …
Reply
Ravi Akella says:
January 31, 2011 at 4:42 pm
RT @Jim_Holland: Great post today by @saeedwkhan "Product Management lies at the heart of Innovation" http://wp.me/pXBON-23D #prodmgmt # …
Reply
syednazirrazik says:
January 31, 2011 at 4:43 pm
Product Management lies at the heart of Innovation http://wp.me/pXBON-23D #prodmgmt #innovation
Reply
Eric Olson says:
January 31, 2011 at 7:51 pm
RT @onpm: New post: Product Management lies at the heart of Innovation #prodmgmt #innovation #leadership http://bit.ly/dIxgxa
Reply
Product Management says:
January 31, 2011 at 11:47 pm
RT @brainmates: Love it & Agree @saeedwkhan Product Management lies at the heart of Innovation http://wp.me/pXBON-23D #prodmgmt #innovat …
Reply
shawkatkabbara says:
February 1, 2011 at 4:53 am
RT @brainmates: Love it & Agree @saeedwkhan Product Management lies at the heart of Innovation http://wp.me/pXBON-23D #prodmgmt #innovat …
Reply
Karl says:
February 1, 2011 at 1:14 pm
This is a problem I need to do more research into, i appreciate you for the post.
Reply
Mike Boudreaux says:
February 1, 2011 at 3:32 pm
RT @onpm: Product Management lies at the heart of Innovation http://wp.me/pXBON-23D #prodmgmt #innovation #leadership
Reply
Joshua Duncan says:
February 1, 2011 at 3:37 pm
RT @MikeBoudreaux: RT @onpm: Product Management lies at the heart of Innovation http://wp.me/pXBON-23D #prodmgmt #innovation #leadership
Reply
Nick Yeates says:
February 1, 2011 at 3:58 pm
RT @MikeBoudreaux: RT @onpm: Product Management lies at the heart of Innovation http://wp.me/pXBON-23D #prodmgmt #innovation #leadership
Reply
Maryellen Kelly_ PhD says:
February 1, 2011 at 4:26 pm
RT @johnpeltier: Well put. RT @saeedwkhan Product Management lies at the heart of Innovation http://wp.me/pXBON-23D #prodmgmt #innovati …
Reply
Derek Chen says:
February 4, 2011 at 7:27 pm
Are you just inventing (what happens in R&D) or actually innovating (creating something people are willing to pay for)? http://bit.ly/feHu0x
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TomGrantForr says:
February 23, 2011 at 1:21 am
Great post about #prodmgmt and #innovation: http://bit.ly/fnEcgN
Reply
Ben Shoemate says:
February 23, 2011 at 1:22 am
RT @TomGrantForr:Great post about #prodmgmt and #innovation: http://bit.ly/fnEcgN
Reply
Lovan Chetty says:
February 23, 2011 at 1:55 am
RT @TomGrantForr: Great post about #prodmgmt and #innovation: http://bit.ly/fnEcgN
Reply
Alan Cornett says:
February 23, 2011 at 3:19 am
RT @TweetDiscovered: RT @TomGrantForr:Great post about #prodmgmt and #innovation: http://bit.ly/fnEcgN
Reply
Steve Johnson says:
January 28, 2012 at 1:22 pm
RT @onpm: Product Management lies at the heart of Innovation http://t.co/DEdMQsX2
Reply
Greg Coticchia says:
January 28, 2012 at 1:27 pm
RT @onpm: Product Management lies at the heart of Innovation http://t.co/DEdMQsX2
Reply
Kathy Strasser says:
January 28, 2012 at 1:38 pm
Product Management lies at the heart of Innovation http://t.co/vnxPQRar
Reply
Matt Howell says:
January 28, 2012 at 2:06 pm
RT @onpm: Product Management lies at the heart of Innovation http://t.co/DEdMQsX2
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Don Williams says:
January 28, 2012 at 3:07 pm
RT @onpm: Product Management lies at the heart of Innovation http://t.co/DEdMQsX2
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Rahim The Dream says:
January 28, 2012 at 4:52 pm
Product management lies at the heart of #innovation: http://t.co/2oNmuEb9. Innovation requires an understanding of market needs #prodmgmt
Reply
Don Walsh says:
January 28, 2012 at 4:57 pm
Via @onpm: Consider the difference between invention and innovation, & how Product Mgmt is involved http://t.co/LcNvkMBx #in #prodmgmt
Reply
BoxStrategy says:
January 28, 2012 at 11:02 pm
RT @onpm: Product Management lies at the heart of Innovation http://t.co/DEdMQsX2
Reply
Goutam Biswas says:
January 29, 2012 at 3:25 am
RT @onpm: Product Management lies at the heart of Innovation http://t.co/u2AtAY0P
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John Peltier says:
January 29, 2012 at 4:05 pm
RT @donnyonline: Via @onpm: Consider the diff btw invention and innovation, & how Product Mgmt is involved http://t.co/r3nqWMMP #prodmgmt
Reply
Maryellen Kelly_ PhD says:
January 29, 2012 at 4:07 pm
RT @donnyonline: Via @onpm: Consider the diff btw invention and innovation, & how Product Mgmt is involved http://t.co/r3nqWMMP #prodmgmt
Reply
Ferenc Gyurcsan says:
January 30, 2012 at 5:30 pm
Invention vs innovation in PM context: http://t.co/66n9xor3
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Jeremy Horn says:
January 31, 2012 at 1:27 pm
Product Management lies at the heart of Innovation | On Product Management http://t.co/gSKCKi3f
Reply
peter scharnell says:
January 31, 2012 at 1:34 pm
Product Management lies at the heart of Innovation | On Product Management http://t.co/gSKCKi3f
Reply
Bianca Alexiuc says:
January 31, 2012 at 2:03 pm
Product Management lies at the heart of Innovation | On Product Management http://t.co/gSKCKi3f
Reply
tgrillz says:
February 2, 2012 at 5:02 pm
RT @onpm: Product Management lies at the heart of Innovation http://t.co/x8INzhGq
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Steve Hall says:
February 3, 2012 at 4:17 pm
RT @onpm: Product Management lies at the heart of Innovation http://t.co/aHxF5ZPt
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Two Lines Solutions says:
February 6, 2012 at 8:21 am
RT @onpm: Product Management lies at the heart of Innovation http://t.co/Oe2oLo33
Reply