Chapter II
Theory
Value
If a design has not changed in 18 years, the product is either excellent or management has failed to improve it.
Larry Zimmerman, American Value Specialist (1982)
First, I would like to introduce the concept of “value”; I will then investigate how value is managed. Value is a very subjective concept; it has different meanings for different people. A consumer will regard it as the “best buy,” a manufacturer will consider it the “lowest cost,” and a designer will view it as the “highest functionality.” Value does not stand alone: “In other words, value is a concept of time, people, subject, and circumstances, not just the subject alone” (Snodgrass and Kasi, 1986, 257). A very interesting concept was related by a customer ...
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