Business Approach to Product Management
Question: "You wrote that product managers are not responsible for P&L. Then why is it common that they are?"
Answer: Some companies apply the Business approach to product management which is heavily focused on the business aspects of the product with a broad emphasis on all related monetary issues.
Consequently, this approach very much resembles a scaled-down executive management function, and in relation to the product it deals with decision making, process application, interdepartmental coordination, project management, team management, revenue management, metrics, costing, pricing, etc'.
The Business approach to product management is unsupported and lacks a methodological foundation.