Describes whether the organization adopted or operationalized a product, internal process, technology, or financing structure that was new or not widely used in the domestic sector during the reporting period.
Business Innovation (OI4718)
- Reporting Format Yes/No
- Metric Type Metric
- Metric Level Organization, Product/Service
- IRIS Metric Citation IRIS, 2021. Business Innovation (OI4718). v5.2.
Footnote
Organizations should footnote all assumptions used, including source(s) of data.
Usage Guidance
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This metric is intended to capture the adoption or operationalization of innovative business practices, ranging from financial structuring of the organization to the business processes it uses to deliver products and services.
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Products included in this metric can be both physical goods and financial products. “Domestic sector” can refer to the national market in small countries and regional markets in larger countries.
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Organizations are encouraged to detail the type of innovation adopted or operationalized, as well as the rationale for such an adoption or operationalization being considered an innovation. Innovations in supplier or client relationships are covered by Market Linkages Improved or Expanded (OI0685).
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International Finance Institutions (IFIs) often use this metric as part of their analysis of private sector development.
Impact Categories & Themes
Cross Category
Metrics identified as "cross-category" are those that are relevant to any IRIS+ Impact Category or Impact Theme (i.e., these metrics are not specific to any particular industry/category or theme).
SDG Goals & Targets
No Poverty
- SDG Target 1.5
- SDG Target 1.4
Zero Hunger
- SDG Target 2.1
- SDG Target 2.2
- SDG Target 2.3
- SDG Target 2.4
Good Health and Well-being
- SDG Target 3.1
- SDG Target 3.2
- SDG Target 3.3
- SDG Target 3.4
- SDG Target 3.5
- SDG Target 3.7
- SDG Target 3.8
- SDG Target 3.9
- SDG Target 3.c
Quality Education
- SDG Target 4.1
- SDG Target 4.2
- SDG Target 4.3
- SDG Target 4.4
- SDG Target 4.5
- SDG Target 4.a
Gender Equality
- SDG Target 5.1
- SDG Target 5.2
- SDG Target 5.5
- SDG Target 5.6
Clean Water and Sanitation
- SDG Target 6.1
- SDG Target 6.2
- SDG Target 6.4
Affordable and Clean Energy
- SDG Target 7.1
Decent Work and Economic Growth
- SDG Target 8.1
- SDG Target 8.2
- SDG Target 8.3
- SDG Target 8.5
- SDG Target 8.6
- SDG Target 8.8
- SDG Target 8.10
Industry, Innovation and Infrastructure
- SDG Target 9.1
- SDG Target 9.3
Reduced Inequality
- SDG Target 10.1
- SDG Target 10.2
- SDG Target 10.3
- SDG Target 10.c
Sustainable Cities and Communities
- SDG Target 11.1
- SDG Target 11.2
- SDG Target 11.3
- SDG Target 11.5
- SDG Target 11.6
Responsible Consumption and Production
- SDG Target 12.3
- SDG Target 12.4
Climate Action
- SDG Target 13.1
Metric History
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April 2021 - IRIS v5.2 Released
No change.
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December 2019 - IRIS v5.1 Released
New metric. Business Innovation (OI4718) developed through partnership with HIPSO.