Value Creation

Value creation refers to the use of business resources to build something that meets the needs of others.

• Some examples of value creation: farmer growing rice or workers in a factory building a bus for public transport or a company using coders to create a website to provide e-commerce services to its customers.
• Value creation is the starting point of businesses of every scale - it is when a customer finds a product consistently useful and can use it to solve problems they are facing.

In the 21st century, value creation depends on multiple factors, such as:

• the product itself,
• the fulfillment of unique customer's needs,
• the speed and precision at which the customer's problems are solved.

In today’s world, value creation means using emerging technology to meet the ever changing needs of today’s customers. Continuous innovation remains a very key part in creating and adding value in any business.