Added value

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  • Created by: Zoe
  • Created on: 09-01-13 09:56
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  • Added value -  the difference between the price of raw materials and the finished product
    • Factor of production - Inputs used in the production of product or service in attempt to make a profit.
      • Land, Labour, Enterprise and Capital
    • Transformation process - Changes made in a business or organisation which improve the company's employee  and management participation in the development of a business. It can give a failing business a new life and  ensure smooth operation of a company
    • Cutting costs, advertising, usp features, location, personal service
    • Benefits -  Differentiates from competition, reduced sensitivity of demand to changes in price, charge higher price (higher profit margins)

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