Managing products within regulated industries presents unique challenges and opportunities. This topic was the focus of a recent episode of The Product Makers podcast where Tim Klein interviewed Deniz Dogan, Product Management Consultant at Product People, about the specific hurdles and responsibilities Product Owners face within regulated environments.

Regulation as Opportunity

Regulation is often perceived as a restriction, limiting the freedoms during product development. However, it shouldn't be seen solely as a blockade. Legal frameworks allow room for creative solutions, depending on how regulations are implemented. A case in point from the podcast is the Digital Services Act (DSA), which mandates transparency and reporting. Although it prescribes what needs to be achieved, it does not specify how, providing room for innovative compliance strategies. Deniz Dogan highlights that, through detailed analysis and collaboration with compliance teams, they identified ways to meet these requirements efficiently.

Collaboration with Compliance

Dogan emphasizes the importance of early and proactive dialogue with compliance teams to ease product management processes in regulated industries. A conservative approach is often taken out of caution, although this may not always be necessary. By thoroughly understanding regulatory frameworks and questioning them critically, Product Owners can avoid unnecessary efforts while remaining compliant. This proactive stance turns potential obstacles into opportunities for product enhancement.

Embracing Ambiguity

In regulated sectors, laws often leave room for interpretation. This can introduce complexity but also opens up opportunities for differentiation. Companies can gain a competitive edge by turning their compliance strategies into unique selling points. For instance, with accessibility requirements, businesses that exceed basic needs can stand out in the market.

Ultimately, for Product Owners, it's not just about adhering to regulations but recognizing the potential benefits in making a product safer and more effective. Those who are willing to scrutinize the regulations carefully and engage in dialogue with the right stakeholders can innovate and gain advantages even in tightly regulated markets.

More Insights and Future Engagement

Listeners interested in further insights can reach Deniz Dogan through his LinkedIn profile or the Product People website. Additionally, he provides a webinar on navigating the Digital Service Act, which can be accessed on YouTube.

For those keen on developing agile product management skills, the 7th Product Owner Day on November 4, 2024, offers a chance to delve deeper into these subjects. More information and tickets are available on their conference page.

Insights and additional episodes of The Product Makers podcast can also be explored in their blog.

This article was inspired by content from a Heise report. For the original article, visit Heise Online.