Tool #18

In the fantastic book, "Strategy Safari" by Henry Mintzberg - 10 different Product Schools are shared. All of them very different ways of approaching the Strategic arena. Far to often, we get caught up in the theory of strategy and trying to define what it is and what it is not. It is a waste of time. Strategy Safari allows us to look at strategy differently. Many possible strategic models can be used to reach success. The Product Strategy is a guide for success, and it helps us make decisions.

The Product Strategy Creation Tool is a framework for creating a Product Strategy - no matter what strategy school you adhere to. The model focuses on a way to create the strategy allowing a clear path and making it easier to involve stakeholders.

There are a few key points that I have found in my work with product strategies:
  1. Even if we lack a documented Corporate Strategy we can and shall still have a Product Strategy
  2. The Corporate Strategy is affected by the Product Strategy
  3. We always need to validate the consistency of the Product Strategy to make it executable
  4. Plan for communication and usage from the beginning
  5. Identify the relevant strategies and plans within your organization. Align or challenge the surrounding strategies!

Successful Product Strategy clearly shows how it contributes to the Corporate Strategies and how it is financially sound.

The Product Strategy Creation Framework is built to support the creation of a Product Strategy and to make it Executable.

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