In a small software development company (20 developers) that lacks a product department, what are some suggestions for implementing this new area?  Should we have one Product Manager (strategic) and one Product Owner (operational)?  How can tasks be effectively segregated between them, with the PM focusing more on strategy and the PO on tactical and operational aspects? I understand it lacks context and additional information, but I would appreciate suggestions on implementation and task distribution.

Given the context, I would suggest to hire a product leader/senior product manager and a mid or entry level product manager. The division of responsibilities is natural where one focuses on "what and why" and the other on "how" ie the operational work you are referring to (think with 20 engineers may be early for BAs).  To be clear, in product organisations, Product Owners are Not aligned with best practice. You usually get these roles in IT or non-product organisations which mean something different and even they are evolving now, see https://www.svpg.com/ 

In a small software development company with around 20 developers, introducing a product function can significantly improve alignment, delivery, and customer focus. Starting with one Product Manager (PM) and one Product Owner (PO) is a practical approach. The PM should focus on the strategic side—defining the product vision, setting long-term goals, understanding market trends, engaging with customers, and aligning with business objectives. The PO, on the other hand, can handle tactical execution—managing the backlog, refining user stories, working closely with developers, and ensuring timely delivery. To implement this structure effectively, ensure regular syncs between PM and PO, define clear roles and responsibilities, and establish collaborative processes like joint planning sessions and shared KPIs. Over time, you can evolve this setup as the company grows, possibly by embedding POs within teams and having the PM oversee multiple product lines or strategic initiatives.

Hi, for the given context , the best way to start is to have a product manager.
However, if your plan is to have a person as product manager  focusing only on high-level activities and at the
same time a person responsible for requirements gathering and analysis, user stories writing, etc. you can add a BA (Business Analyst) to the product team who will specifically be focused on the activities mentioned as “operational” otherwise, having the one dedicated product manager doing including operational part, which is an absolute standard for product teams, also works fine.
Please note that having a product manager and BA does not exclude the product manager from actual product development process, even more, this position is involved in product team’s work + tight collaboration maintenance of product trio: Product Manager, Tech Lead, Design Lead to deliver the products customer love.

In case of further questions, happy to reply. 
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