VALUE Vs PRICE There are four major attributes of a commodity i.e.‚ an item or service produced for‚ and sold on the market has four major attributes. They are: • a value • a use‐value (or utility) • an exchange value • a price (it could be an actual selling price or an imputed ideal price) VALUE In simple words‚ value refers to the importance of a thing or utility of a commodity. But in economics the term “value” has a quite different meaning. According to the famous economist
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Value Chain Analysis The diagram above shows us a chain of activities for a company that operates in a specific industry. It suggests that organisations that go through this chain of activities will add more value to their product/services‚ so that the company will gain marginal value for their products/services. If the activity runs efficiently‚ this specific company can gain advantage over other competitors. The Porter Value Chain classifies into different groups as product and support activities
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We should not preserve the past‚ we should look to the future. We are living in the modern era‚ where people are practical and realistic‚ optimistic that new inventions and discoveries will improve their lives. For most‚ it would be plain foolishness if one were to be so mindful about the past‚ when instead‚ one should invest his time and thought into building a better and more meaningful life in the future. Ironically‚ in the midst of their “pragmatic” judgement of keeping the past alive‚ these
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Do you long for the past or look forward to the future? In order to answer this question one has to review the advantages and disadvantages of some major factors of the past and future .And therefore after a comparison between the past and future one may answer the question. One major factor to consider whilst comparing the future and past is the youth’s behavior and life style .In the past the youth were more obedient and performed better in school. A major reason could be students were more
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Values Reflection Paper By Kimberly Moore CJA 474 /Managing Criminal Justice Personnel Week One Assignment Due January 28th‚ 2013 Instructor: Mark Weissmann This value reflections paper will identify my core values as an individual. It will explain how people in general acquire values and change their values also. I will explain what values do for people and to people. The value reflections paper will explain the nature and the
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Value chain analysis refers to a set of value creating activities‚ ranging from raw materials to marketing or producing a product or service and distributing it to the final consumer. Currently in present-day context‚ firms turned to outsource certain resources to reduce their cost of the product. This corporate value chain framework can be used for identifying competitive advantage methods of displaying and categorizing activities to contribute positively to the firm’s competitive strategy. If it
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Introduction The value chain‚ or known as value chain analysis‚ is a concept from business management that was first described and popularized by Michael Porter. (Porter) Most of business strategy is to achieve a sustainable competitive advantage. Cost advantage and differentiation advantage are the two basic types of competitive advantage. Cost advantage can be obtained when the firm is able to deliver the same benefits as competitors‚ but at a lower cost‚ while differentiation advantage is
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How will science and technology change your lives in the future? Though humans may try to predict the future‚ nobody seems to ever get it completely right. But when it comes to the job market‚ one thing is certain: with the world experiencing one scientific breakthrough after another‚ exciting new career possibilities are bound to emerge. It may sound like science fiction‚ but what seems far-fetched today is often the technology of tomorrow. “Technologies like the Internet‚ cell phones‚ and personal
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Hello! My name is Márcia and in my free time I enjoy dancing‚ going for a walk‚ watching TV‚ listening to music and reading. In the future I would like to be a veterinary‚ because I love animals! I like to treat them and also because I think this is a job that has a lot to do with me. I just hope to achieve this goal because I’d love to work in a veterinary clinic. If I go to an interview‚ I should answer all questions clearly and directly; I should take an extra copy of my CV and some references
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activities a firm performs to deliver value to its customers. The value chain model divides the generic value-adding activities of an organization into primary and secondary activities. An advantage or disadvantage can occur within any of the five primary or four secondary activities. Together‚ these activities constitute the value chain of any firm. The model can be used to examine the development of competitive advantage. By identifying the potential value to the company of separate activities
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