Value innovation is important to recognize in any company. Value innovation happens when you recognize your current business processes and improve them. In this article at BPM Enterprise, they show this via McDonald’s recent business emphasis in coffee. They saw that by improving what they had, they could become a real competitor with Starbucks, and have after improving the value of their own product.
It’s important to recognize what can be improved in your current business processes. Processes that can be changed are business rules engines, workflow solutions, online credit reports, and online databases that can allow for value innovations to be added to the business processes. The business world is constantly changing and evolving, and it’s important that business recognize this. What processes in your company can be innovated to better suit your needs?
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