- Using the template below, draw up a list of areas in your operation that you have identified which could be done better
- Provide an approximate cost of implementing the item
- Outline the proposed benefit of introducing the innovation into your business
- Prioritise the relative ease with which the item can be incorporated into your operation
- Consider and record the expected time that the innovation will last for
- Payback period for amount invested.
If you are unsure of how to calculate some of these figures, such as payback period, or benefit cost ratio, speak to your consultant, or business advisor, and they can help you with these.
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