From the course: Product Management: Building a Product Strategy

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Why strategy is important

Why strategy is important

From the course: Product Management: Building a Product Strategy

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Why strategy is important

- Let me give you a true or false statement. Most organizations have a good sense of strategy and follow it consistently. What do you think? Well, I have no doubt that for many organizations, from small startups to multi-billion dollar companies, the answer is false. Plenty of companies act mostly in a reactive fashion. They respond to a never-ending cycle of events, put out fires, react to competitors. Some have strategies that are so vague, no one understands what to make of them. Many may start with a decent strategy, but lose track of it over time. Countless organizations try to follow a strategy, but have leaders and teams pulling in different and conflicting directions. Now, it's also very common to see product teams that function as order takers. They take orders from salespeople who may understand what customers want, but represent limited perspectives, typically driven by short-term motivations, like quarterly…

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