Innovation Process The

Innovation Process The notion of innovation as process places emphasis on how this is perceived and produced, at different stages to give rise (conception, creation, research, development, production and marketing) and how these articulate “(Taken from the book” Technological innovation in Colombian industry “Colciencias and the Colombian Observatory of Science and Technology, 2003. p. 41). Process innovation-a revolutionary new approach that fuses information technology with human resource management, can dramatically improve business performance. In the demanding environment of the 1990s, the mere formulation of the strategy is not enough, it is also essential to design the processes to effectively implement the strategy. Based on new technologies and motivated workers, process innovation is based on the commitment of top management with a strategic vision.Its scope is broad and crosses many roles within the company. Their goals are ambitious-firms that embark on process innovation usually seek tenfold improvement in their performance on cost, time or quality. For example, IBM reduced from seven days to one time of preparation of tenders for the purchase or lease a computer, in addition to preparing a number of offers ten times greater. The American treasury collection by 33 over their delinquent taxpayers with half the staff and one third of the delegations. An analysis of NYSE suggests that the redesign of the procurement process could save hundreds of millions of dollars a year to buyers and sellers.