What does it mean to create value?

I don’t have a simple answer for you and for myself. It took time for me to understand what that meant and some of the potential answers have left a deep impression on me. I understand what it means to leverage skills and ideas to create new products and services. I understand what it means to simplify processes that bring results faster and more dependably. However it is important to understand what kind of value is being created and who it is impacting at the end of the day. The underlying essence of running a successful business is to reduce risk and create the most value. Being analytical is important because it helps you break down problems and address segments objectively. That is important in any given context. However, what engineering doesn’t help understand is the comparitive value that is generated and why one segment is more important than another if monetary value in the form of net present value is taken away. How does a business manager decide the impact of a project if there are no measures of return in terms of financial indicators?
What else does matter after all? Does the upliftment of a society only matter because an educated and society that is in a state of well being are healthy consumers? Are we working towards the upliftment of society so that we can increase consumption and in turn support the productivity of businesses? It seems to me that my initial idea of asking more questions than providing answers is insightful because it makes you and me think. I might not have the answers but sometimes its valuable to ask the right questions.