Date : 16-Oct-2020
Location: Global
Organization:
Kaspersky, a global cybersecurity, protect businesses, critical infrastructure, governments and consumers around the globe, with deep threat intelligence and security expertise.www.kaspersky.com
Key Takeaways:
- According to new research commissioned by Kaspersky, 95% of heads of innovations in enterprises globally admit that their projects often fail before they are launched. Many of these innovations don’t even make it past development stage (36%).
- A lack of cooperation with IT Security departments also increases the likelihood - 74% agree that inability to adapt projects to strict cybersecurity rules will lead to failure.
- More than half (54%) believing that IT security policy in their company stifles innovation.
Spokepersons:
- Alexander Moiseev, Chief Business Officer at Kaspersky,said,there should be mindset change with regards to the attitude towards the believe that IT security policy stifles innovation;the solution is to include a Chief Information Security Officer (CISO) early in the process of products innovation.
- Stephan Neumeier, Managing Director for Asia Pacific at Kaspersky,said,in order to develop forward-thinking products and services,enterprises must learn the formula of digital society.
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| Alexander Moiseev,Kaspersky |
Stephan Neumeier,Kaspersky |
Insights:
- In the study, 304 senior decision makers with an involvement in innovation, working in Europe, MEA, APAC, LATAM, North America and CIS were surveyed online in July 2020.
- For most enterprises, the main reason for unsuccessful innovation is the lack of a clear plan and structure in place, with one-fifth (19%) of respondents agreeing with this.
- It means that the ability to execute is as important as coming up with a brilliant idea, in order to transform a valuable insight into a profitable and plausible solution.
- Once the roadmap is established, it is also worth regularly reviewing it to keep up with competitor activity, market trends and industry fluctuations.
- In APAC region, the results are a tad higher, with 98% of projects failure and 40% did not go past development stage.
Best Practices:
- To include a Chief Information Security Officer (CISO) early in the process of products innovation to increase the chances of success.
- To learn formula of digital society as the key ingredient of forward-thinking products and services.
Case Studies:
Many products developed by enterprise failed; examples are Nintendo’s Virtual Boy game console that was designed to incorporate VR and the Nike FuelBand fitness tracker are both high profile.
Editor's Comments:
- Most product innovation projects only pay attention to timeline and budget, where project managers have more authority in decision makings over solution architect.
- The failure to keep up with market dynamics, and the absent of agile software development practice are key factors where the end products often failed to live up to expectations.
Photo by NESA by Makers on Unsplash
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