To realize added value, production activities must occur. In other words, added value arises from production activities. Production involves bringing into existence things that did not previously exist in the world. This can be accomplished by combining existing items to create new ones or by processing raw materials into new products. Production includes physical manufacturing, knowledge generation, and service creation. Wealth represents the accumulation of added value. Consequently, to become wealthy, one must be productive. However, value is determined through relative comparison. A product can only be exchanged if it can be priced, and added value can only be actualized by exchanging this product. This process is referred to as commerce. In other words, it is known as a transaction. Through trade, humanity distributes this added value. - Joseph’s “just my thoughts”
In September 1999, NASA’s unmanned Mars climate probe “MCO” exploded in Mars’ orbit. Manufacturer Lockheed Martin set up the data unit as a “yard,” but NASA mistook it as a “meter.” The MCO entered the atmosphere of Mars 100 km below the original orbit and exploded in friction. Communication error had blown away $ 125 million. With this opportunity, NASA decided that the units used in space development were “meters”. A slip of the tongue in business doesn’t end just a mistake accidentally. It must undoubtedly damage the “cash flow”. - Joseph’s “just my thoughts”