Consumer product strategists hold a wide variety of job titles: product manager, product development manager, services manager, or a variation of general manager, vice president, or even, sometimes, CEO or other C-level title. Despite these varying titles, many of you share a great number of job responsibilities with one another.
We recently fielded our Q4 Global Consumer Product Strategy Research Panel Online Survey to 256 consumer product strategy professionals from a wide variety of industries. Why do this? One reason was to better understand the job responsibilities that you, in your role, take on every day. But the other reason was to help you succeed: By benchmarking yourself against peers, you can identify new job responsibilities for growth, improve your effectiveness, and ultimately advance your career.
What did we find out? The bottom line is that consumer product strategy jobs are pretty tough. We found a wide range of skills are required to do the job well, since consumer product strategists are expected to:
Drive innovation. Consumer product strategists are front-and-center in driving innovation, which ideally suffuses the entire product life cycle. Being innovative is a tall task, but all of you are expected to be leaders here.
Think strategically... You've got to have a strategic view of your markets, identifying new concepts and business models and taking a long-term view of tomorrow's products.
...but execute as a business person. While thinking strategically, you generally have to execute tactically as well. You're business unit owners. At the senior-most levels, you hold the P&L for the product or portfolio of products.
I am attending Nokia World in London. For those of you not familiar with this event, that’s usually the conference where Nokia shares its vision and strategy, announces new products and services, and demonstrates its latest innovation. This is also an interesting opportunity to hear thought leaders share their vision of the mobile industry (this year, Sir Tim Berners-Lee). See the agenda here.
The 2010 edition is already unique in Nokia’s history due to the recent appointment of Stephen Elop as the new CEO and yesterday’s resignation of Anssi Vanjoki, currently EVP of Nokia's Mobile Solutions unit. Needless to say there is lots of speculation about Nokia’s future. Let me wrap up some thoughts:
It’s precisely all about organizational and cultural issues. No one should be surprised to see other departures as well as the arrival of new executives close to the newly appointed CEO. Nokia’s real challenge is to make sure these changes are implemented quickly enough -- without totally disrupting existing processes -- to keep pace with innovation. The simple fact that Nokia appointed a non-Finnish CEO, coming from the US and from Microsoft and the software industry, is another acknowledgment that Silicon Valley has become the new mobile innovation hub. Nokia’s cultural heritage is precisely to constantly reinvent itself. Tectonic shifts are shaking up the traditional mobile ecosystem, and Nokia needs to be much more agile to compete with the likes of Google and Apple.