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What is a Management Dashboard?
The term Management Dashboard defines a wide range of data reporting and visualization tools or dashboards that allow using various performance & efficiency measures to report on an enterprise’s ability to organize and coordinate its activities in accordance with certain policies and in achievement of pre-determined objectives. What is a Management Dashboard?
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Money Management Action Plan

In this Money Management Action Plan you can read a range of tips and suggestions that will help you manage your money in an effective manner.

Money Management Action Plan
Home » Glossary » What is Process Innovation
What is Process Innovation   

What is Process Innovation


Process Innovation is the implementation of a new method, normally a more advantageous one, to produce desired results of a process, so certain increase in speed, profitability, productivity, quality level, or other characteristics attributed to this process can be reached. A process innovation usually involves changes in techniques, equipment, or production organization (or all at once): this effort is undertaken to open new opportunities such as possibility to produce new or improved products (that cannot be manufactured using conventional assets) or to increase the efficiency rate of the process while producing conventional products. Process innovations should be discovered as improvement opportunities worth of investment, approved with a help of feasibility study, planned in practical terms, and then implemented according to specific plan. All these efforts require from organization a systematical approach and considerable investments of time and money.  

Process innovation refers to the following cases:

  • Continuous process improvement projects (TQM, six sigma, Kaizen, etc);
  • Process reengineering (one-time fundamental reorganization of a process);
  • Reengineering of products (conventional manufacturing process doesn’t work anymore);
  • Implementation of IT (linking processes to software, new communicational means, etc);
  • Modernization (changing equipment from outdated units to modern ones);
  • Implementation of so called “green technologies”; 

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