Innovating Through Crises: A Product leader’s Perspective

The COVID-19 pandemic has created unprecedented challenges for businesses across the world. The crisis has introduced major discontinuities across markets, customer behaviours, and ways of working and living. However, not all sectors or geographies have been affected equally. While some industries have struggled to survive, others have flourished as a result of the crisis.?

Whether we thrive or struggle, as product leaders we know that innovation is a key driver of growth. But how do you innovate during a crisis, when time and information are scarce and the stakes are high? According to recent research, crises can be a catalyst for innovation. When faced with necessity and urgency, people can generate fresh ideas and make bold bets that can help a business not only weather the storm but emerge stronger and more resilient.?

As a product manager or product leader, it is essential to support the actions that will grow the organization towards a bold innovator during times of crisis. We must gather data and insights to identify where the new growth opportunities are, what resources will be required to pursue these opportunities, and how to shift existing resources to support the new direction. We must flex our stakeholder management muscles and work with the leadership team to secure sufficient funds and people to back these bets, as well as communicate the rationale behind these decisions and gain buy-in from all stakeholders, including colleagues and customers.?

Ultimately, it is the company top leadership’s responsibility to set the course, speed, and tone of the pivot that will deliver innovation-led growth. As a product manager or product leader, your role is to support this effort, providing the necessary insights, resources, and guidance to make it happen.?

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Nevico is a Product Management agency that works across disciplines to build and develop our clients’ Product Management through consulting and training services. Contact us at?[email protected], via?www.nevico.dk??or directly at?+45 42832829.?