Product Owner is a Scrum role or position

The concept of Product Owner first appeared in the Scrum project management methodology in the 90s. The essence of this approach lies in the flexibility and prioritization of tasks to be completed during the sprint (a period of time from one to four weeks). Actually, the Product Owner is responsible for this. And also for the value of the product, communication with stakeholders and within the team, so that everyone understands the goals and objectives in the same way. The main idea of this role is to collect the requirements of stakeholders, customers, users, choose the key ones from them and convey them to the team along with your vision of the final product. This role can be performed by people from different positions - for example, a business analyst or even a business owner.

In addition to the Product Owner, the traditional Scrum team also includes developers and a Scrum master, who is responsible for maintaining the backlog and regular meetings.

But depending on team size, company specifics, niche, and many other factors, this framework will change. Each team adapts it to itself. Yes, in small teams there is usually no Scrum master, and all his duties are transferred to the Product Owner. And if the company has several teams, a completely different scheme of interaction emerges and new roles appear. Over time, these transformations of the framework went so far that the role of Product Owner became a separate position.

What does the Product Owner do within his component:

• understands business needs and collects product requirements;
• ensures the work of the development team;
• monitors implementation and evaluates progress;
• works with goal setting (KPI or OKR);
• manages Scrum processes (planning, prioritization of tasks, filling and grooming of the backlog, ceremonies, etc.);
• composes epics and user stories;
• organizes castdevs, feature quests;
• studies analytics and understands what works and what doesn't in the product;
• makes a specification;
• looks for insights, forms hypotheses and tests them;
• responsible for technical and product design;
• chooses qualitative methods of solving this or that problem.

More info here - https://romtos.com/who_is_the_product_owner