Question

There is an old business saying, "If you can't measure it, you can't manage it." Companies set standards for how much time, material, overhead and prices are needed to complete a product for the market. What are your experiences or insights in 1) how these standards are established, 2) who determines what the standards should be, and finally 3) what examples of performance measurement can you think of that is difficult or impossible to accurately determine?

Answer 1

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