Final answer:
A weakness to the idea of value in the business context is that it aligns with the endowment effect, an overvaluation of products due to invested resources. With complex products sourced from various countries or companies, value is perceived as greater than the sum of its parts, an idea further understood through Gestalt psychology.
Step-by-step explanation:
A weakness to the concept of value is that the product is more than the sum of its components. This reflects a tendency known as the endowment effect, whereby individuals value things more highly simply because they have invested resources into them. This often leads to an overvaluation of a product compared to its actual market value.
In the context of global manufacturing, this can be observed where complex products often come from multiple sources. For instance, one country or company may not excel at making every part of a complex manufactured product, so parts can come from multiple companies within multiple countries, each adding some form of value to the final product.
The human tendency to perceive things as complete objects rather than as a series of parts is known as Gestalt psychology, specifically the principle of uniformity or wholeness. This principle plays into how we assign value to complex products, assuming that the combined parts create a greater value than the individual parts alone.