![]() In other fields, product work will mainly consist of finding ways to apply new technologies to a specific use case (e.g., Uber, Google Maps, WhatsApp).In some areas, creating value will require the invention of new breakthrough and complex technologies (e.g., developing new Apple devices, working on Google search, developing Databricks products, working on Siri).Accordingly, the tools that a product manager and team will use will depend on the problem they are tackling: Value chains vary across different problems that people face in their lives. But it is precisely the increase in the efficiency of solving problems that drives growth in individual businesses, productivity and quality of life across the world. Value is created when you improve the efficiency of solving the task of target users. The goal of any company is to create maximum value by using available resources, and then turn part of this value into profit. The goal of a product manager is to increase the efficiency of solving a user problem The graph below shows the dynamics of this indicator for the UK over the past 250 years. The cumulative effect of these processes is expressed in the growth of overall labor productivity. But at the same time, it improves the well-being of the people who use it and the efficiency of solving the problem. This redistribution of the “job” leads to the growth of the company’s business. ![]() If a product team manages to find a more effective solution to a common problem for a group of people, then their product replaces the alternatives-or otherwise said, steals the “job” of those alternative solutions. The main driver of progress is the emergence of new technologies that give rise to products that simplify and improve people’s lives. Searching for a date with a mobile app is much easier than going to a bar and looking for someone to date.Infant mortality is declining, and life expectancy is growing rapidly with advances in healthcare, society, and culture.In many sports, junior athletes are achieving the level of Olympic champions of a decade ago thanks to more effective training methods.But thanks to the emergence of more efficient tools (technology, fertilizers, product varieties, industrial agriculture), a relatively small number of people can now provide food for the whole world. Previously, a large proportion of the world’s population had to work in agriculture to feed everyone. ![]() Now, it can be done in a fraction of a second.
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