Compass pointing to the word "innovation"

New Commonwealth Bank research on levels of business innovation activity in the Australian Not-for-Profit (NFP) sector has found that just one in four NFPs are innovation active when assessed against the leading international guidelines used by the OECD. But the sector’s preparedness to be truly innovative outstrips other industries across Australia.

The OECD innovation guidelines, known as the Oslo Manual, define innovation as a new or significant improvement in one of the following four areas – products and services, business processes, organisational methods and marketing practices. Ongoing improvements, however, do not qualify as innovation.

While many Not-for-Profit organisations who took part in the research didn’t meet the Oslo Manual standard for innovation, 70 per cent were well on their way, having adopted improvements in at least one of the four business areas described above. This level of improvement was beyond the national average for Australia, which was just 38 per cent of all businesses.

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