refers to the performance of a process in a radically new way with the objective of achieving dramatic improvements in response time, quality, and efficiency.IBM Credit, for example, radically redesigned its credit approval process and reduced its time for preparing a quote from seven days to one;similarly, Federal-Mogul, a parts manufacturer, used process innovation to reduce development time for part prototypes.Process creation refers to the installation of an entirely new process with the objective of meeting customer and financial objectives. Chemical Bank, for example, identified three new internal processes: understanding customer segments, developing new products, and cross-selling the product line. These new internal rocesses were viewed as critical by the bank's management for improving the customer and profit mix and creating an enabled organization. It should be mentioned that process creation does not mean that the process has to be original to the organization. It means that it is nes to the organization. For example,developing new products is a precess common to many organizations but evidently was new to Chemial Bank.