The Innovation Process at ROI
Research and development (R&D) is a critical process for any company. It is through this process that a company can create new products or services and improve on existing ones.
At its most basic level, research and development is about generating new ideas. A company’s research and development team will brainstorm new ideas and then test them to see if they are feasible. If they are, the team will then develop a plan for bringing the product or service to market.
However, this process can be expensive, time-consuming, and requires a specific type of support and investment that typically for-profit businesses have access to.
Innovation for Non-Profit vs. For-Profit
In most cases, for-profit businesses have an R&D department, a products and services department, and an infrastructure department. Each department works together to create a functioning innovation process for the company.
R&D:
- Tests new ideas
- Develops new products or services
- Evaluates customer feedback to improve products or services
- Monitors competition and industry trends
Products and Services:
- Distributes products and services to customers
- Oversees the creation and production of products and services
- Make sure that the products and services are made to the highest quality standards
- Manages inventory
Infrastructure:
- Bookkeeping
- Accounting
- Human Resources
Often, non-profit organizations don’t have the same resources as for-profit businesses. Thus, the innovation process of a non-profit typically looks a bit different. They have a programs department rather than a products and services department and an overhead, or administrative department instead of an infrastructure department.
Programs:
- Develops and oversees programs that fulfill the mission of the organization
- Creates and manage programs that meet the needs of the target population
- Provides leadership and support for program staff
Administration:
- Provides general support to the organization
- Includes functions such as accounting, human resources, and information technology
- Helps to ensure that the organization is able to operate smoothly and efficiently
It becomes hard to find room for R&D. The lack of resources and space leads to not being able to investigate promising ideas. At the very least, non-profits will try and squeeze the R&D process into programming or overhead.
ROI’s Solution
Innovation is key to the success of any company or organization, and ROI seeks to keep R&D at the forefront of their projects and work regardless of any limitations. ROI is constantly exploring new ways to improve their products and services and R&D is a key part of that.
With the help of SVT Group, ROI created their Social Innovation approach.
The process follows 5 steps:
- Listen to and engage deeply with community members about their unmet needs and desires.
- Integrate the top global advances in human performance with deep local knowledge.
- Test possible solutions and collect data to learn what did and didn’t work.
- Create structures and procedures to ensure transparency and representation in decision-making.
- Scale solutions that fit local needs by harnessing global wealth, growing local networks, and sharing insights with the broader community.
ROI is continually working to improve their products and services, and to find new and better ways to meet the needs of their consumers.
The blueprint to an exceptional innovation process includes a collaborative effort between team members and deep engagement with the community.
Innovation processes should be ever-evolving, and always looking for new ways to improve products and services and to meet the needs of customers.
