Strategy
Balancing Optimization and Innovation
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Designing an Organization that Can Optimize and InnovateAndy argues that the most common drawback of functional organizations is that they start to over-index on business growth, and aren't designed to provide new and innovative value to customers (as opposed to optimizing the existing value propositions). The solutions are to design product organizations around the needs of the user and to provide explicit guidance on how to balance effort between optimization and innovation by product group.
Manage Your Time Like Google Invests its Resources: 70/20/10Noah discusses the importance of balancing innovation and optimization in product management. He draws a parallel between Google's investment approach and how product managers should allocate their time. Google spends 70% of its time on core search and ads, 20% on adjacent businesses, and 10% on new ideas. He suggests that product managers should allocate 70% of their time on short-term tasks, 20% on tasks up to a quarter out, and 10% on further-out tasks. He also highlights the importance of consistency and avoiding lumpiness in time allocation, as well as observing and looking for clues in short-term tasks that can lead to new ideas.