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Goldbacks are shaped like banknotes but contain a small amount of 24 karat gold. The gold is contained between two layers of clear, decorated polyester. Goldbacks are sold in increments labelled 1, 5, 10, 25, and 50, each containing proportionally larger amounts of gold. [2] [3] [4] Goldbacks is minted by Valaurum, a private mint.
A value chain is a progression of activities that a business or firm performs in order to deliver goods and services of value to an end customer.The concept comes from the field of business management and was first described by Michael Porter in his 1985 best-seller, Competitive Advantage: Creating and Sustaining Superior Performance.
A value shop is an organization designed to solve customer or client problems, rather than creating value by producing output from an input of raw materials. The principles of value shops were first conceptualized by Thompson in 1967, and properly defined by Charles B. Stabell and Øystein D. Fjeldstad of the Norwegian School of Management in 1998, who also created the name.
A global value chain (GVC) refers to the full range of activities that economic actors engage in to bring a product to market. [1] The global value chain does not only involve production processes, but preproduction (such as design) and postproduction processes (such as marketing and distribution).
Chapter 4 (“The governance of global value chains,” co-authored by Gereffi, Humphrey and Sturgeon) is the top-cited GVC article with over 11,000 Google Scholar citations; chapters 2 and 3 have over 5,000 citations each; and chapters 5, 6, 8, 11 and 14 each have over 1,000 citations.
Fjeldstad and Stabell define a value network as one of three ways by which an organisation generates value. [3] The others are the value shop and value chain. Their value networks consist of the following components: customers, a service that enables interaction among them, an organization to provide the service, and
Value network analysis (VNA) is a methodology for understanding, using, visualizing, optimizing internal and external value networks and complex economic ecosystems. [ 1 ] [ 2 ] The methods include visualizing sets of relationships from a dynamic whole systems perspective.
Value engineering can lead to the substitution of lower-cost materials, as with the exterior cladding that accelerated the Grenfell Tower fire in London. [1] [2]Value engineering (VE) is a systematic analysis of the functions of various components and materials to lower the cost of goods, products and services with a tolerable loss of performance or functionality.