Abstract Since 1990, the scientific and technique are progressing fast, especially for information technique field is advancing day by day and year by year. It makes the business environment changing quickly. The advance of 3C technique, economic integration for international and blocking, global market and competition, it makes so much challenge and crisis. In highly competitive environment, ¡§speed¡¨ is based requirement. Enterprise should go through ¡§process innovation ¡§ method to progress business competitive ability and to control the market. After Internet Network is invented and developed, the management concept of ERP (enterprise resource planned), SCM ( supply chain management ) and CRM( custom relation management ) leads the full newly competitive environment. During this newly competitive environment stage, the business how to make more better competitive advantage is the subject of this study. There are two main subjects for this study: 1. Analysis the key factors for competitive advantage of steel business and set up the model of competitive ability evaluation. The index for competitive ability evaluation include¡G¡]1¡^Growth¡]2¡^Profitability¡]3¡^Financiality¡]4¡^Stability¡]5¡^Activity¡]6¡^Productivity. 2. Set up the model for process innovation of steel business. According to evaluated model, analysis and compare 14 main companies in the steel world. The 3-best competitive ability companies are: Nucor steel is first, Thyssen Krupp company is 2nd, and 3rd is China steel company. Conclusion: 1.Competitive ability of steel company is not related to company size. 2.¡§ Process Innovation ¡§ is best tool to improve the competitive ability. 3.Want to make value, it should follow the trend of age pulse and catch up it.