Two vignettes

To illustrate the principles of value creation, consider these two hypothetical vignettes from everyday life.

Vignette 1 – A Visit to the Doctor

You pay a non-routine visit to your doctor.  The doctor’s first question is, “What kind of pills would you like today?”

Your reaction?  You’re shocked at the incompetence, and look for another doctor.  Any doctor that prescribes medicines upon request is little more than a very expensive vending machine.  We expect the doctor’s first question to be something more like, “What is bothering you today?”

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