Agile methodologies: Adapting product management to rapidly changing market conditions
1 Independent Researcher, UK.
2 Independent Researcher, London, UK.
3 Communications Software (Airline Systems) limited a member of Aspire Software Inc, UK.
Review Article
GSC Advanced Research and Reviews, 2024, 19(02), 249–267.
Article DOI: 10.30574/gscarr.2024.19.2.0181
Publication history:
Received on 07 April 2024; revised on 21 May 2024; accepted on 24 May 2024
Abstract:
This review paper explores the effectiveness of agile methodologies in adapting product management practices to the dynamics of rapidly changing market conditions. The paper synthesizes existing literature on the application of agile principles across different sectors, focusing on how these methodologies facilitate responsiveness and adaptability in product management.
The core analysis centers on the comparison of traditional and agile product management approaches, drawing on case studies and expert opinions to highlight the benefits and challenges associated with agile adoption. Key findings demonstrate that agile methodologies, such as Scrum and Kanban, enable organizations to enhance product innovation and customer satisfaction by fostering a culture of continuous improvement and rapid response to market feedback.
Despite these advantages, the review also identifies potential drawbacks, including the complexity of transitioning to agile frameworks and the scalability of agile practices in large organizations.
The paper argues that agile methodologies are crucial for companies aiming to remain competitive in fluctuating markets, provided there is a strategic commitment to agile transformation and an investment in overcoming the initial hurdles of adoption. Recommendations for effective implementation of agile practices in product management are provided to guide organizations in their agile journey.
Keywords:
Agile methodologies; Software development; Adaptability; Customer collaboration; Iterative development; Teamwork; Technical excellence; Rapid market adaptation; Case studies; Benefits; Challenges; Organizational success
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Copyright information:
Copyright © 2024 Author(s) retain the copyright of this article. This article is published under the terms of the Creative Commons Attribution Liscense 4.0
