Product Manager vs. Product Owner Roles

This is a snippet from 280 Group's Agile Certified Product Manager and Product Owner - Online Course and Exam
Learn More About The Online Course:
280.gr/2zrnRC5
To be totally clear, this is a discussion about roles and NOT titles. For example, your TITLE can be Product Manager while performing the ROLE of a Product Owner.
Product Management is a big discipline that covers a vast range of activities and responsibilities. This means being the market expert. You own the product strategy which drives the vision and roadmap. You manage the product throughout its lifecycle. And you ensure that there is a business justification for your decisions. You present the need. Your focus is the problem space and you avoid defining the product. You make the tough decisions and tradeoffs between features, schedule and cost. Ultimately, you deliver differentiated products to market.
In some companies, the role is so big, that different aspects of it are split between different people.
On the flip side, this is how product ownership is defined.
You maximize the value of the product and the work of the development team. And you are the sole person responsible for managing the product backlog. You need to make sure the backlog is visible and understood by the entire development team. And all of these tasks for a particular project or slice of a project are the responsibility of one person.
When you map the roles side-by-side, you can see that the product owner is responsible for the detailed work. You can see how closely they work with the development team.
There are a lot of tasks that overlap with product management responsibilities. To allocate these, you may need to adjust for individual strengths and weaknesses.
Some tasks are outside the scope of what Agile defines as that of the Product Owner. Many organizations struggle with dividing their responsibilities and if someone has all of these assigned to them, the workload becomes overwhelming. As a result, the focus is on the urgent and strategic focus is greatly diminished or lost.

[@nickmcloota5786]

Insightful! Curious why in the image, PO is inside PM... doesn't seem right to me.