THE VALUE EQUATION

Jorge Ivan Mendez-Diaz, Oswaldo Morales-Matamoros, Ricardo Tejeida-Padilla, Gilberto J. Vazquez-Espinosa

Abstract


Value, from the point of view of customer, is defined as the customer’s subjective evaluation, adjusted for cost, of how well a good/service meets or exceeds expectations. Nevertheless, some aspects must be considerate, such as: quality, speed, and flexibility; these factors are considered in the value equation. In this work are explained what it is the value equation.

Keywords


value, operations management, performance, value equation.

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