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Value Adding In Business Essay

757 words - 3 pages

Explain the concept of value adding as its applies to the business you did the internet research on.Value adding is defined as being achieved by combining available resources to produce an output. It is the creation of extra or added value as raw materials are transformed into intermediate or finished products through the various stages of production.In this case, the business that has been chosen; 'Perpetual Trustees' . Perpetual Trustees is a diversified financial group that specializes in Perpetual Investments, Investment Management, Securitisation, Fund Administration, Fund Compliance and ABS reporting.The value adding in this case involves the training and education of the analysts, accountants, actuaries, tax employers and all other employees. These jobs require tertiary education and must be applied at a professional level like this through training in the workforce. These are labour resources and the money that is being paid is for the services of these employees.In return for that, the service applied, in general being the analytical skills, is applied to manage the wealth of their clients and investing to earn more money. This is the one of many services that is offered. More resources offered by the company for the value adding includes the range of managed investment products to the retail, wholesale and institutional markets. The product range varies from cash, rollovers, mortgage funds and international equities. There is research required for these products and commission is taken as a result through the managed investments.Through combining these resources, the concept of value adding is applied by the business and produces the output being the services provided by Perpetual trustees as listed being the Investment management, Securitisation, Fund Administration, Fund Compliance and ABS reporting.Explain value adding for a business that is different to the one you did internet research on.The business that will be used in explaining the concept of value adding will be Michael Hill Jeweler.Michael Hill Jeweler is operated by Michael Hill international and is a retail jewelry chain that caters principally for the middle section of the jewelry market and also specializes in higher priced diamond jewelry.The concept of value adding is applied here with the resources required being the gems- diamond, ruby, amethyst, etc and the metals- silver, gold, etc.Labour resources are also heavily employed with over 1,760 staff in the retailing, manufacturing...

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