Baldrige Glossary HD: Value
(Blue words below link to definitions, detailed descriptions, examples, core values, Baldrige Best Practices, Baldrige Application Response Templates, or examples)
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Value The term “value” refers to the perceived worth of a product, service, process, asset, or function relative to cost and to possible alternatives. Organizations frequently use value considerations to determine the benefits of various options relative to their costs, such as the value of various product and service combinations to customers. Organizations need to understand what different stakeholder groups value and then deliver value to each group. This frequently requires balancing value for customers and other stakeholders, such as stockholders, employees, and the community. The term "value" appears in the Baldrige Criteria in the following locations:
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Paul Steel
2008 Baldrige
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