Production, marketing, and sales, inventory control, research and development, management of human resources and information systems, and company infrastructure are all value-creating activities.
Value creation is the process of changing labour and resources into something that meets the requirements of others. This covers labor-intensive activities like manufacturing, crop cultivation, and other intangible assets like computer code and unique ideas.
Technology, innovation, intellectual property, alliances, management competencies, employee relations, customer relations, community relations, and brand value are some of the primary categories of intangible assets, albeit the intangible components that drive value creation vary by business.
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