What is meant by 'Innovation' in the context of the RAQSCI model?

In the context of the RAQSCI model, ‘Innovation’ refers to enhancements to customer experience. This encompasses various aspects where organizations adopt new ideas, processes, or technologies to improve how customers interact with a product or service. By focusing on innovation in this way, businesses can create solutions that not only meet existing customer needs but also anticipate and fulfill potential future demands, ultimately leading to a more satisfying customer journey.

Investing in innovation can lead to developing unique features, superior service offerings, or streamlined interactions that significantly elevate customer satisfaction. This focus on enhancing the customer experience aligns with the overarching aim of RAQSCI, which seeks not just to satisfy requirements but to exceed expectations, fostering loyalty and long-term success in the marketplace.

While efficiency in procurement practices, cost reduction strategies, and compliance with industry standards are all important elements in business operations, they do not directly capture the essence of innovation as it pertains to improving customer interactions and satisfaction.