4 BROCKHAUS 1994: Brockhaus Enzyklopädie,

in twenty-four volumes.

Value creation / value chain

(19) Mannheim: F.A. Brockhaus GmbH, pp. 88-89

Value creation

Economy

“Value added, the contribution of an economic sector to

net domestic product at factor costs, at the same time

1.1 VALUE CREATION,

WHAT IS IT ANYWAY?

When we talk about value creation, it is first important to define what we

mean by this term. There are many definitions. Most of them define value

creation as a purely monetary process 4 — In the business sector, it usually

describes the intention to maximise profit as much as possible through vari-

ous processes, with the aim of deriving the greatest material benefit from it.

We would be lying if we said we had no interest in turnover and profit.

Nevertheless, for us, value creation is much more than profit maximi-

sation. For us, value creation is defined by fair, respectful treatment of our

employees and partners, resource-conserving production or social commit-

ment. These are things that cannot be measured in purely monetary terms.

the sum of the incomes generated in the branch (em-

ployees‘ and and entrepreneurial income, interest on

borrowed capital, net rents and net rents). Analogously,

the value creation can be calculated for individual ent-

erprises and for the economy as a whole. The amount

of output is calculated as the value of net production

from the gross production value minus Intermediate

consumption, depreciation and indirect taxes, plus go-

vernment subsidies.”

18

So, when we talk about value creation in the

following, for us it is not only an increase in

material value through various processes, but

also the increase in value through responsible

action.