Final answer:
New methods for producing existing products or delivering existing services are referred to as process innovations, which enable firms to gain a temporary edge and make profits. Option B is correct.
Step-by-step explanation:
New methods for producing existing products or delivering existing services are known as process innovations. This involves incrementally or radically modifying existing systems to improve efficiency, quality, or performance. For example, when a company finds a way to produce products more cheaply or with enhanced features that consumers desire, they are engaging in process innovation.
By doing so, innovative firms can have a temporary competitive advantage, leading to the potential for above-normal profits. Companies like Samsung, as mentioned by CEO Gregory Lee, embrace this relentless pursuit of innovation as a key principle in their business model.