There is a shortage of qualified personnel in Croatia across almost all industries, and product management, a niche area that is developing very intensively, is no exception. Whether it concerns digital or physical products, companies are in dire need of experts who can carry the product development from idea to market launch (end-to-end).
However, experts currently applying for project manager positions require a significant amount of time to learn all aspects of this complex job, and they also lack specific knowledge. Project management, in fact, requires skills in leading people, business knowledge in areas such as finance and marketing, as well as an understanding of how technologies work and how to communicate with engineers and programmers in the case of digital products.
To provide current and future product managers with the opportunity for formal education, Algebra University is launching a new program at the Algebra MBA Business School specifically designed for product managers.
Presenting the new program, Arsen Šolić, head of the e-leadership MBA department at Algebra, emphasized that the development of this program was prompted by the lack of product management experts in the labor market. Currently, marketing professionals, project managers, and even lawyers are most commonly working in product management in companies, while only a smaller number are developers and engineers.
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– The clarity of the purpose and functionality of the product and coordination with related departments at various stages of product development and placement require pronounced communication and organizational skills. Companies are organized in different ways, but in a matrix-project organization, a product manager must know which human resources are needed for product realization and how and when to engage them. The product manager also collaborates with management, finance, marketing, and engineering teams and serves as the main link within the company, as well as between client expectations and the company – said Šolić.
In addition, the program was launched to further utilize the Smart Specialization Strategy (S3) and develop the skills and competencies of individuals responsible for product management primarily in the IT sector, but also in all other product-oriented companies. As explained by Hrvoje Josip Balen, a member of the Management Board of Algebra University, the program originated from the idea and effort to turn the Croatian industry towards its own products and intellectual property, which ultimately brings greater added value compared to services, as evidenced by market trends.
