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The role of the Product Owner in agile software development is critical being accountable for maximising the value, although becoming proficient in this role is a complex process. The Product Owner’s responsibilities vary between different industries. The literature has not fully explained the role of a Product Owner. We shed light on the factors that influence the role at levels of organisation, team, stakeholder, and the individual. We conduct a systematic literature review in combination with a focus group consisting of practitioners to better understand the problem and to address the persistent gaps in theory and practice. Rather than exposing generic competencies associated with the role of Product Owner, our findings show that the role is tailored to fit the unique organisational context, including at the team level, and involves managing the organisational environment, including the institutional culture and politics …