It is a statement that outlines the future aspirations and goals of a company. It paints a picture of what the organization wants to achieve and become in the long term. On the other hand, a mission statement defines the purpose and reason for the company's existence. It answers the question of why the company does what it does and what it aims to accomplish in the present. Lastly, values are the guiding principles and beliefs that shape the company's culture and how it conducts business. While all these elements are important for a company, they do not fully capture its true purpose.

It is a statement that outlines the future aspirations and goals of a company. It paints a picture of what the organization wants to achieve and become in the long term. On the other hand, a mission statement defines the purpose and reason for the company's existence. It answers the question of why the company does what it does and what it aims to accomplish in the present. Lastly, values are the guiding principles and beliefs that shape the company's culture and how it conducts business. While all these elements are important for a company, they do not fully capture its true purpose.

A company's purpose goes beyond the words written in a vision statement or a mission statement. It is not just about the goals and objectives that are set, but rather the impact and value that the company brings to its customers, employees, and the world. A company's purpose is about the meaningful difference it makes and the positive change it creates.

To truly understand a company's purpose, one must look beyond the surface-level statements and dig deeper into its actions and the impact it has on its stakeholders. It is through these actions that the true purpose of a company is revealed.

When it comes to product management, understanding the purpose of the company is crucial. A product manager must align their work with the overall purpose of the company to ensure that they are creating value and making a meaningful impact. This requires a deep understanding of the company's values, mission, and vision, as well as the needs and desires of the customers.

However, it is not uncommon for companies to lose sight of their true purpose. As they grow and become more bureaucratic, they may prioritize pleasing stakeholders over solving end-users' problems. Decision-making processes become convoluted, and analysis paralysis sets in. This shift from purpose-driven decision-making to politics and bureaucracy can hinder the ability of product managers to create value and make a meaningful impact.

To combat this, product managers must be vigilant and stay true to the purpose of their work. They must lead by context and not by control, inspiring their teams and empowering them to make decisions that align with the company's purpose. Decision power is crucial for product managers to thrive and create value. Without it, they are reduced to mere project managers, following a plan rather than driving towards a vision.

So how can product managers ensure that they are doing product management and not bullshit management? Here are three actionable pieces of advice:

1. Stay focused on the vision: As a product manager, it is important to have a clear vision of what you want to achieve. This vision should be aligned with the company's purpose and should guide your decision-making process. Stay focused on this vision and don't get caught up in unnecessary bureaucracy or politics. Keep the end-users' needs and desires at the forefront of your mind.

2. Test and iterate: Good product management involves testing many small ideas with little funds and gradually increasing them as you gather objective evidence. Embrace a culture of experimentation and learn from failures. Don't be afraid to pivot or change direction if the data suggests it. This iterative approach will help you make informed decisions and create value for your customers.

3. Foster collaboration and communication: Product management is a collaborative effort. Foster open communication and collaboration within your team and with other stakeholders in the company. Share your insights, gather feedback, and involve others in the decision-making process. By working together, you can ensure that your product aligns with the company's purpose and creates value for all stakeholders.

In conclusion, product management should be about creating value and making a meaningful impact. It requires a deep understanding of the company's purpose and a commitment to staying true to that purpose. By aligning your work with the company's values, mission, and vision, and by following the three actionable advice mentioned above, you can ensure that you are doing product management and not bullshit management. Remember, it's not just about following a plan, but about driving towards a vision and creating value for your customers and stakeholders.