04. Know Your Company

Become Credible: Know your company Heading

Know your Company

What do you need to learn?

ND036 C3 L1 05 Become Credible- Know Your Company

Start with the Mission, Vision, and Strategy

Knowing your company starts with the mission, vision, and strategy. It is important to understand the company’s purpose i.e what does it exist for, what is it trying to achieve and how does it plan to achieve. This is called a company’s Mission, Vision, and Strategy.
Depending upon the company’s culture, you will see these printed and posted on the office walls or on their website. The purpose of this is to constantly remind everyone what the company stands for.

Example:

Revisiting Sworkit. Take a look at Sworkit's About-Us page to get familiar with a company that talkies about itself very well.

As you explore Sworkit, also think about:

  • Who is their target customer?
  • What are the unmet needs of the customer?
  • What are their needs that are not satisfied by any other alternative in the market?
  • How does the company create value?

Know Your Company

Know Your Company

Become Credible: Know your company Recap

Knowing your company goes beyond the mission, vision and strategy. It is about knowing the details that go into defining the strategy to support the company’s mission and achieving the vision.

  • Who is the target customer?
  • What are the customer’s unmet needs?
  • Who are the competitors?
  • How does the company create value?
  • How does the company grow?

I highly recommend spending the initial 2-6 weeks of joining as a Product Manager to acquire the above knowledge to believe in your own message, define the problem to solve and identify the solutions.

Become Credible: Know your company Quiz

Based on your understanding of ‘Knowing your company’ is ‘Upwork’ a competitor of ‘WeWork” ?

SOLUTION: No

Become Credible: Know your company Quiz

As a Product Manager, what information do you need to learn about the company ? Select all that apply

SOLUTION:
  • What are the core strengths and differentiating capabilities of the company?
  • How does the company generate revenue?
  • Why does the company track success metrics based on ‘daily active users’ (instead of anything else)?
  • Your company mission statement informed about improving millions of people financial wellness in U.S. Is the target customer people who are unable to save and afford a home,people who seek payday loans frequently, elderly who are unable to manage their monthly expenses?