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Value Creation

The exact opposite of waste is value creation. That is what you aim for with all lean activities. Value creation are all activities that create or add value to your service or product and the customers are willing to pay for. When a service or product has been perceived or appraised to fulfill a customer need or desire as defined, the product or service may be said to have value or worth. Components of value may include quality, utility, functionality, capacity, aesthetics, timeliness or availability, price, etc.

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