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What is a value-add?

What is a value-add? Here are some definitions.

Noun
  1. (business, management) Something that adds value; a benefit or enhancement.
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Examples
So, by my reckoning, the News Corp offer has to be all about the value-add.
The new plant will meet increasing demand from makers of best-selling jet engines, growing Alcoa's value-add business in aerospace.
The biggest value-add that we're bringing to that property is stable ownership.
Focusing employees on high value-add activities and initiatives.

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