An innovative project is a complex system of actions aimed at achieving certain goals in the development of science and technology. They are interconnected by event performers, deadlines and resources. An innovation program is a set of interconnected innovative projects, as well as projects that are aimed at supporting activities in this area. At the moment, innovative projects in preschool educational institutions are gaining popularity, examples of which inspire the creation of new educational programs.
Level of scientific and technical significance
Innovative projects, as well as technical solutions and ideas that they implement, may have the following levels of scientific and technical significance:
- modernization (the basic technology does not undergo fundamental changes);
- innovative (the design of the new product is significantly different from the previous one);
- advanced (the design was created thanks to advanced technical solutions);
- pioneer level (new technologies and materials appear that did not previously exist).
The level of significance of an innovative project determines the complexity, scale, features of promoting the results of the process and the composition of the performers. This will affect the content of project management.
Main types
There are quite a few types of investment concepts. They are classified according to different indicators. Among the main categories of projects, several examples can be distinguished:
- Duration of implementation - projects can be short-term (less than three years), medium-term, or long-term (over 5 years).
- The volume of financing is small and medium, large and mega-large.
- Specialization – commercial, scientific and technical, industrial, environmental.
- Scale – from global and large-scale to local.
- The level of risks, as an example, is low and high.
Every year thousands of investment business plans are launched in the Russian Federation.
Classification of innovative projects
Innovative projects can be classified as follows:
- short-term;
- mid-term;
- long-term.
3. According to the needs that the project satisfies. They can focus on creating new or satisfying existing needs.
4. By type of innovation (creation of a new or improved product, reorganization of the management structure, etc.).
5. According to the degree of decisions made, they can be of the following nature:
- branded;
- regional;
- industry;
- international federal
6. According to the scale of the tasks performed:
- mono-projects – projects that are carried out by one company within strict financial and time limits, and have a clear innovative goal;
- multiprojects – complex programs aimed at achieving complex goals;
- megaprojects are multi-purpose programs that combine a number of multi-projects that are connected by one difficult to achieve goal.
Each project goes through certain stages of its development from its inception to its completion. Their totality forms its life cycle. It is customary to divide it into phases, then into stages, and then into stages. They vary depending on the work organization system and field of activity.
Healthy, artisan food trucks
When you think “food truck,” what comes to mind?
Fatty burgers, fries and kebabs? No innovative business ideas?
Well, that was true, but there is a new trend towards healthy, artisanal food trucks providing high quality food and drink.
As mentioned above, you need to stand out by targeting a niche market such as vegan, gluten-free, or paleo. Providing healthy alternatives to popular foods is another winning strategy.
Healthy vegan gluten free ice cream, anyone?
Trucks are truly versatile, and as your business grows, you can purchase new trucks and hire staff to easily scale.
Development of an innovative project
When created, innovative projects go through the stages of development, implementation and completion. It is worth paying attention to the main stages:
- idea formation;
- opportunity research;
- preparation of documentation for concluding a contract;
- preparation of documentation for the design of the project;
- work to implement the program;
- monitoring of economic indicators.
At the development stage, attention is paid to the success and effectiveness of the project. Moreover, the details of his existence at this moment are not too important. For them, novelty, competitiveness, licensing protection and the presence of a patent are especially important. In addition, innovative projects require investment of funds aimed at improving the business.
Food delivery
Food delivery services are on the rise as people work longer and are more health conscious.
These ready-to-eat meals offer a ton of opportunity for smart entrepreneurs who can figure out how to differentiate them from the crowd.
Here are some ideas for your unique selling point:
- vegetarian
- Gluten free
- Paleo
- Locally grown
- raw
- High protein
- Nutritionist approved
These services usually operate on a subscription basis - innovative business ideas can provide a stable income.
Implementation of innovative projects
Most organizations use internal and external sources of financing simultaneously. Internal sources are their own funds, which are mainly generated from the sale of assets or are insurance sums and depreciation charges. External sources of financing include attracted and borrowed funds, as well as financing from the regional or federal budget.
Vegan meat and dairy products
On the topic of special dietary requirements, have you noticed a surge in veganism lately?
This is a unique market with great potential for emulation.
The offerings currently available are quite popular, with many vegan cheeses and meats receiving mixed reviews.
If you can develop alternatives that taste great and work well in cooking, you'll be on to a winner. Think vegan cheese that melts just right, vegan burgers with a juicy bite, or vegan milk that doesn't shrink in coffee.
Risks
Innovative projects are the programs with the highest risk for investment. For this reason, their creators should realistically assess their capabilities. The most attractive for investment will be programs aimed at promoting finished innovative products. Projects related to the promotion of new technologies are characterized by increased risk, since it is much more difficult to create a marketing concept for them.
Problems with financing arise if the project has an unfinished stage of exploratory research. When they are carried out, there is a high probability of obtaining a negative result.
What's next?
Innovation can be categorized in different ways, and the purpose of these classifications is to deepen your understanding of what opportunities exist and how different types of innovation can work in the context of your business.
The most ambitious innovators find the right combination of the above and apply them as widely as possible to their organizations. Rather than relying on a single R&D process or one type of innovation, they use and manage different types of innovation in an integrated and systematic way.
Whether you're just getting started in innovation, have some successful experience, or are a seasoned, decorated innovator, you can still try to find new growth opportunities in your organization, no matter your current level.
Your approach to innovation depends largely on your unique capabilities and strategic goals. Ultimately, managing innovation is no different from managing any other major change, and more or less the same principles apply.
While it's important to move quickly, don't bite off more than you can chew.
To avoid unnecessary chaos, you want to go through the various aspects of your business and:
- Assess your current condition.
- Prioritize areas that need improvement.
- Break down your strategic goals into smaller, easily implementable pieces.
- Commitment to the process.
If, for example, your strategic priority is to improve the efficiency of your operations, you can start by monitoring and analyzing your existing processes.
Once you have identified and prioritized the most important areas for improving, say, information flow, you must create an actionable plan to remove any obstacles that may stand in the way of information sharing.
This may mean making changes to the organizational structure or introducing new technologies that help improve coordination and collaboration between different business and support functions.
Risk classification
The risks of an innovation project are uncertainty that depends on the decisions made, and their implementation takes some time. Part of business decisions is risk assessment. To classify them, it is advisable to apply the block principle, which provides for the distribution of risks by categories, groups, types, etc. The risks of innovative projects can be classified as follows:
- As predictable as possible: foreseen and unforeseen.
- By the presence of intentional creation.
- By time of detection.
- At the place of discovery.
- By detection method.
- For reasons of appearance.
- According to the culprits of the appearance.
- By duration of action.
- If possible, insurance.
- By methods of eliminating consequences.
- By stages of the technological process.
- According to production conditions.
- At set prices.
To assess the risk of an innovation project, it is necessary to determine the degree of research and development, the program's compliance with the company's market strategy, and marketing. Classification, assessment and study of risks will be required to manage them.
Men's hair salon
Gone are the days when men walked into a barbershop for a standard haircut and shave, opening the door to many innovative business ideas.
Men's grooming and fashion have come a long way, and most salons still have some catching up to do. Become a trendsetter by creating a men's barbershop that caters to the most stylish guys.
There are many additional opportunities here to make a profit, sell men's hair or expand services including skin care and more.
Assessing the effectiveness of an innovation project
The effectiveness of a project of this type from the point of view of its participants can be determined by the corresponding indicators of their participation. It is worth considering its assessment by the innovative university, which is responsible for the implementation of the project and also attracts outside participants and additional funding. Assessing the effectiveness of an innovation project is based on the following principles:
- prices for services, resources, goods that are provided for by the project or established on the market are applied;
- cash flows must be calculated in the same currencies provided by the program for paying for products and purchasing resources, after which they will be converted into rubles at the current rate;
- in the calculations it is necessary to take into account the profit from financial and investment activities, as well as apply the project financing scheme;
- it is necessary to take into account contributions to additional funds and the income received from them.
In the process of calculating the performance indicators of a company's participation, it is worth taking into account funds, regardless of whether they are own or borrowed. Payments on loans will be called outflows, and borrowed funds will be called inflows.
Registration of the structure of an investment projecta
The structure should depend directly on the specifics of the investment object, the scope of implementation, etc. These examples of investment projects do not take into account the financial side of business projects. It is important that the current financial condition determines the balance of the launch date for the project. This factor directly affects the size and direction of cash flows. In this regard, the return on investment is determined. The compiled examples must have descriptions of the volume and form of investment. A brief summary of the essence of the proposal is required. By summary we mean a detailing of the main features of the development pre-determined by the project itself. Many companies and specialists provide services for the development of investment projects or their analysis, and as a result, correction for maximum efficiency.
An example of an innovative project taking into account efficiency risks
It is worth considering the development of an innovative project taking into account the assessment of its effectiveness. As an example, you can take the example of the EcoZdrav LLC project. The company operates in Krasnoyarsk. The project is aimed at the production and sale of reagent-free and cartridge-free units, which are intended for the purification of drinking and waste water. At the moment they have no analogues.
Preliminary market research has shown that the need for these installations is quite high. According to estimates, it is 25,000 pieces, which is only a tenth of possible buyers. Based on this information, the company plans to produce 10 thousand units per year, which will be quite reasonable.
To evaluate performance, you need to find the net present value (NPV) using the price growth rate and the sum of the weighted average cost of capital (WACC). The following formula applies:
where E is equity capital, D is the amount of borrowed capital, K is the amount of invested capital, y is the expected return on equity, b is the expected return on borrowed capital, t is the income tax rate.
For this company the indicator will be:
If we take the inflation rate of 7%, which was set at the time the project was developed, we can get a discount factor of 0.340624.
According to the plan, the profit volume will be 448,060 rubles. in the first year, 3,229,925 rubles. - in the second, and 3919425 rubles. - in the third. Taking them into account, it is necessary to calculate indicators on the basis of which the effectiveness of the innovation project will be assessed.
Net present value calculated for the next three years (NPV):
NPV1 = 448060/1.340624- 2000000 = – 1665782.5
NPV2 = 448060/1.340624+ 3229925/(1.340624)^2 – 2000000= 131343.21
Return on Investment Index (PI):
PI = (448060/1.340624+ 3229925/〖(1.340624)〗^2 )/2000000 = 2131343.21/2000000 = 1.0656
Internal rate of return (IRR):
IRR = r_1+NPV(r_1)/(NPV(r_1)- NPV(r_2)) (r_2-r_1)
The cost of capital r1 is taken to be 20%.
Then IRR = 0.3+255859.8/(255859.8- 131343.21) (0.340624-0.3)=0.383475
We can conclude that the calculated rate of return exceeds the cost of capital. Thus, the implementation of this innovative project will be appropriate.
Zero waste toiletries
The zero-waste revolution is growing in size, with people looking for durable versions of items we now consider disposable.
Popular zero-waste products already featured include menstrual cups, cloth diapers, toothbrushes and hairbrushes.
By finding new disposable items that can be turned into durable goods, you have a great chance of cracking this market.
You should also focus on making production as eco-friendly and ethical as possible, since low-waste consumers typically consider these qualities important.
Innovative projects in business
Today, innovative business projects are successfully conquering the world market. This is explained by the fact that the modern consumer is not so easy to please. If a company repeats its competitors, it will lose its popularity over time. For this reason, any business needs innovation. It is best if these are truly innovative projects, and not an update of old technologies, goods or services.
The world community is actively changing thanks to the development of the scientific and technical sphere. From this point of view, business requires attention. In addition, innovations must be recognized by society. If they do not accept the developed innovative project, an example of which was demonstrated to consumers, it will not bring any benefit.
Healthy food for pets
We bet you haven't thought about pet food when coming up with innovative business ideas.
Pet food is a huge industry: we have a lot of pets, and they all need to eat. But how do you intervene when there are already several giant pet food manufacturers?
Human food trends are often replicated in the pet food world, so using trends to create a “healthy,” “raw,” “artisan,” or “paleo” kibble is a smart move.
Market yourself to a very specific type of pet owner—avoid being too general.
The benefits of innovation in business
It is worth noting that innovation in business requires significant intellectual, financial and labor costs. In addition, you will have to invest not only in the project, but also in the company’s employees. Innovations in business activities can be technical, managerial, administrative, economic and organizational.
Among the main innovative projects of this kind can be called computerization. They help create databases of baths, carry out calculations using the Internet, use computer programs for work and sending emails. In addition, an entrepreneur will be able to create a commercial website or online store.
Thus, projects of this kind in business make it possible to improve the procedure for development, provision of services, sales, etc. In addition, the process will be significantly simplified and take less time. This means that the business will have greater profitability.
Concept and levels of planning in the investment field
For a substantive consideration of the issue, I propose to describe in a little more detail the collective image of the company under study. Let’s say the company is a medium-sized company with 500 employees and annual gross revenue of 60 million rubles. The management consists of a board of directors and functional management departments: financial, commercial, IT, personnel, etc. Production is dispersed across a small branch network.
The company is led by the general director, and his deputy, the chief engineer, is responsible for development. The company is actively developing regular management, the BSC system and the budget management system are in place. EBIT profit for the past year amounted to 15 million rubles.
Innovative projects at school
Parents are often faced with the question of where to send their child, to a regular school, gymnasium or lyceum. Most of them are identified quickly, but the concept of “innovative school” is rarely familiar to them. Despite this, all modern educational institutions can be called such. This is because most curricula are designed with innovation in mind.
It is not at all necessary to send your child to an innovative school, because an innovative pedagogical project is also being implemented in a traditional institution. But they will still focus on developing children’s ability to independently acquire knowledge.
The use of innovative technologies in school allows us to individually select a training program for each child, which has a positive effect on his capabilities. In addition, children will be more eager to study, since they can be interested. What is an innovative project at school? An example is the use of various programs in the educational process. With their help, you can positively influence the acquisition and assimilation of knowledge.
Integration of capital investments into the budget management system
Tactical and operational levels are closely related to the budget management system. Budgets are the same financial plans that were successfully used in the planned economy of the USSR, only with a commercial component included in them. The modern structure of financial planning and reporting is a replica of Western methodology. The so-called master budget is divided into an operating budget and a financial budget. The financial budget complex consists of:
- investment budget;
- cash budget;
- budget of income and expenses;
- budget balance sheet.
Innovation project: example
In order to finally understand what an innovative project is, it is worth considering a specific example. Electrolux Design Lab held a student competition in China in 2013. There, a graduate of the Animation Institute, Qing Ji, presented his project, which was aimed at improving human sleep. He developed a cell cushion in the form of green mass. It can provide not only optimal rest, but also protection against harmful bacteria. In this case, the innovation project, an example of which is presented, involves the invention of a completely new and complex technology.
The pillow contains aloe cells that absorb carbon monoxide and release oxygen. For this reason, people who sleep on it do not have breathing problems. Aloe cells are able to eliminate any harmful bacteria around them. This innovative project, an example of which was described, became successful, but if you want to create something new, you can prepare a program that is not so complex. It may contain an update to existing technology.
Source of the article: https://fb.ru/article/177584/innovatsionnyiy-proekt-primer-razrabotka-riski-i-otsenka-effektivnosti-innovatsionnyie-proektyi-v-shkole-ili-v-biznese
Nostalgic restaurants
Nostalgia for the past is big these days - how many 90s memes and jokes do you see on the Internet every day?
Taking advantage of this love for all things retro is a great way to create a profitable, unique restaurant. Pick an era, decade or theme, then design your menu, decor and music to suit it accordingly.
You can try a 90s gaming theme with retro gaming consoles, music theme and pixel wall art.
Get creative and look for ideas on social media.
Nostalgia is fertile ground for finding innovative business ideas.
