Value added can be defined as the additional something a corporate does to a product that formulates it appeal more than the cost of its fundamental parts. For instance, adding a brand name to a general product, amassing a number of diverse parts in an exceptional way that no one has ever done before. It is also a term used to describe the amount taxed on a product at every phase of the product cycle. In addition, the intellectual expertise and skills of an individual, or group of people, contributes to added value of a product (Reed, Fraser, & Dougill, 2006). Economists define value added as the difference between the gross revenue for an industry, and the sum of the labor, materials and services purchased to manufacture the products, in order to generate the revenue of the industry. This is comparable to contribution margin in business. Calculation of the total value added by an industry, will aid the economists to know how much that industry has added to the nation’s gross domestic product.
Outline the goals and indicators for measuring development progress for a nation.
Ralph Lauren Corporation was built in, on March 20, 1997.The Corporation is affianced in the design, distribution, and marketing of lifestyle products; clothing, home furnishings, accessories, and other licensed products. It operates in three sections: Licensing, retail, and wholesale. Wholesale business, operates approximately 46% of net revenues, from sales made to stores around the world. Retail business, also manages approximately 52% net revenues, this include, direct sales to consumers through retail channel. Licensing business, also manage revenues of about 2%.It consists of license to unconnected third parties (Robert, Parris, & Leiserowitz, 2005). The corporation also has the right to operate retail stores, use its trademarks in line with the designed products. Ralph Lauren Corporation is a multi-national corporation; hence it has formulated Sustainable Development Goals. Well fashioned goals and indicators will unite civil societies, governments, business and organizations to end extreme poverty and achieve sustainable developments. Ending extreme poverty is one of the most important sustainable goals. The government needs to implement ways to cur food shortages and improve on food security. Ensuring all people access health facilities will also promote humanity. Education is also of great paramount, good learning facilities should e availed to everyone.
How do goals and indicators for measuring development progress relate to Ralph Lauren Corporation?
This corporation focuses on, energy efficiency, packaging, recycling and logistics. This has resulted in considerable sustainability gains. The company ensures its products are transported by air; as a result, the company has reduced on air pollution. It has also discovered other ways product distribution; ocean freight, and truckload (World Resources Institute. 1995). Competent practices to conserve energy have been executed at many company y the company. They are computer based systems that aid in, lighting, heating, ventilating and air conditioning. Also the company has recycling practices in all of its corporate offices. It is known for its cartridge recycling program me. Finally Ralph and Lauren Corporation, works with integrity for the environment. This is because of the measures it has implemented to curb environmental pollution.
Research the value adds the corporation is creating for the community and itself. What are the community reactions? How does this affect the corporation’s success?
The Ralph Lauren brand has flourished for many years, this has brought, an attractive, exemptional, and classic fashion industry. The new technologies have made the company to increase in the added value. Ralph Lauren is already brand names that will be passed to many generations (Parris, & Kates, 2003). The community has greatly benefited from the success of the corporation.