The Wider Picture of Value Creation in Life and Business Than Lean Production Concept

ABSTRACT

Every system is intended to create a “value”. Value is “all that contributes to the market form or function of a product or service in such a way those buyers are willing to pay for it”. A very common term we encounter is waste. The Lean concept works by recognizing all activities that “do not add value” or what customers are not willing to pay. Lean production concept has recognized seven such losses, even more ones according to Author of article. The basic message of Lean Production concept is Lean Manufacturing = Common Sense. Think about the nuclear weapons race, recent wars, global warming, environmental pollution, GMO and fast food, various cancer causes, modern slavery, poverty, corrupt financial systems, the recent COVID- 19 outbreak, and so on. If we are smarter today why don’t we use that knowledge to be happier and create positive changes both as a collective and as individuals? Isn’t the most valuable form of knowledge that which can make us happier? Do we really know and understand what values are most important in our lives? Application of “custom design” value architecture through values type identification, time, value definition and value laws are shown in this article. © 2022, The Author(s), under exclusive license to Springer Nature Switzerland AG.