New challenges for product organizations

New challenges are hitting product organizations at an unprecedented rate, and the global microprocessor shortage is an excellent example. General Motors, for instance, announced in March this year that they were going to have to reduce the fuel control system on some of their vehicles, and more recently, they said they were going to stop including the Start/Stop system on their trucks, SUVs (Sport Utility Vehicle), and light-duty trucks. These actions are a demonstration of something needing to be reduced in a product because of a challenge. General Motors chose to do this in one of their strongest product lines in North America with the largest volume. The reaction does not impact the drivability or consumer sentiment of the vehicles. However, the consumer impact would be huge if they made these moves in their economy vehicles, where fuel economy is a buying factor and fewer vehicle numbers are sold, only marginally reducing their demand for processors.

In today’s episode, I discuss the new challenges for product organizations. I predict that we will be facing these challenges quicker and much more often as the global pace of technology is moving so fast, particularly as demand returns after COVID-19. I reveal which areas are being hit the most by challenges, volatility, and unplanned decisions. I share what product organizations will need to do to meet these new challenges and discuss the boundaries within organizations that will need to be overcome to find success. I also share what the successful companies of tomorrow are doing today to adjust to the pace of challenges, including improving their communication and agility.