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Added Value
Added value

Adding value means that the company sells products that are more valuable than those it buys. In some cases the value is added by transforming raw materials or components into something that is more useful, in other cases value is added by applying a service component to a product or group of products.

Value is not necessarily added simply by inputting effort: the right effort needs to be made if value is to be created rather than destroyed, and the amount of value created will vary greatly according to the inputs the company gives. As an analogy, ...

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