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Suggests that a number of assumptions in the past have been made about how business process improvement, re‐engineering and organizational learning should take place in organizations. Points out that, although a number of these assumptions have been framed on theoretical models, few have been based on the empirical analysis of the nature of actual business processes. Tries to fill this gap with an analysis of data, information and knowledge exchanges in 22 business processes from three organizations. Points to a number of characteristics that appear to be contradictory to some current organizational practices, and that can be helpful to inform future developments in the fields of business process improvement, re‐engineering and organizational learning. Two relevant characteristics are a much higher proportion of data over material exchanges in business processes, and a higher proportion of knowledge exchanges in improvement over core and support processes.

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