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" The value added by an activity is the difference in the price that an economically rational buyer would pay for a work product before, and after, the activity is performed. The customer is one judge of economic value, but never the sole judge. "

, The Principles of Product Development Flow: Second Generation Lean Product Development


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 quote : The value added by an activity is the difference in the price that an economically rational buyer would pay for a work product before, and after, the activity is performed. The customer is one judge of economic value, but never the sole judge.