What do we mean by innovation? Innovation is that doing a certain thing in a new way. Particularly in business, innovation is a common word. BPI or the Business Process Innovation increases profitability, reduces operations costs, increases productivity and reliability,increases employee job satisfaction and it can capture value from your customers regarding with your products services offered. Every business process must be both thorough and yet quickly adaptable. Business process innovation, continuous process improvement and speed of change are the key opportunities for competitive differentiation. Through this business process innovation, it can provide key benefits to the companies. One of these benefits is providing competitive advantage. It can able to do product differentiations as well.
One of the concepts under BPI is the continuous improvements wherein this concept is familiar for all businessmen. Through these concepts it can help companies to be paralleled to their existing competitors, provide competitive advantage and can able to meet and exceed customers' requirements.
References: http://en.wikipedia.org/wiki/Innovation
http://www.cordys.com/cordyscms_com/business_process_innovation.php
http://www.1000ventures.com/business_guide/innovation_process.html
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