Business processes, also called workflow, are a series of actions that are carried out by the system and/or users so that operations are standardized and carried out with monitoring. Common actions in a business process include: approvals, sending notifications, changing some information in a Lead record, or setting a task to be performed relating to the Lead or other object. Creating these workflows takes a little know-how, but NO coding skills.
Business Processes are designed in the CRM -> Settings -> Business Processes section. Each CRM object (or Contact, Company, and Deal) has its own set of BPs.
Three standard business processes for the CRM are included standard: Process lead, Contact processing and Web store deal.
More details about business processes can be found here.