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(From Business Line)
from BUSINESS LINE, December 11, 2006 Creating value is the guiding principle of modern management. This is a significant shift in management philosophy; moving from managing resources (input) to managing performance (output). At the same time, it is an intriguing phrase, the meaning of which is far from clear. When people think about the work carried out in companies, they are more likely to think about the actual goods and services coming out of them, rather than an abstract concept called value
Nevertheless, the mission of any corporate management is to create value. Value comes from different aspects and sources - from the utility of a product, its quality, its image, its availability and the after-sales service by the company. Value is defined not by what a company does, but by what its customers want. Some people like …