Product Management as a Specialization
The skills required of a product manager are well defined and straightforward to describe, according to PMTK.
The skill set, comprised of Intelligence and strong command of the English language, fits well with PMTK's view of the product manager as a strategic role and of product management as a specialization.
But many companies view the product manager as a technical/tactical role and product management as a generalization.
Why?
The reason dates back to the 1980s.
Early technology startups and companies were formed by technical people with a background in product development or manufacturing. Many still are.
Startup founders are focused on technology and personally engage in sales, marketing, financial, funding, and other core company activities.
Steve Jobs and Bill Gates are good examples of startup founders who did everything around one product. They managed the company and the company's products.
These managers later became company CEOs, modeled product managers' job descriptions after themselves.
Thus were born the CEO of the Product or Product CEO or Mini-CEO designations, synonymous with the Product Manager title.
With such a hazy and broad definition, it is possible to fit almost anything into the realm of product management.
The startup founder and the company CEO are always responsible for commercial success.
So don't be surprised if at companies that view product management as a generalization, the product manager is responsible for the product's commercial success, aka Profit and Loss (P&L).
Product management is a highly well-ordered and well-disciplined profession meant to be practiced by specialists, not generalists.
Companies are meant to be run by executive management, professional generalists, who preside over product managers, professional specialists.