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When is a variance considered to be 'material'?
Profit
The financial gain obtained when the amount earned from a business activity exceeds the expenses, costs, and taxes needed to sustain it.
Network Organization Design
An approach to structuring an organization where coordination and communication rely on informal relationships rather than a formal hierarchy.
Monitor
To regularly observe and check the progress or quality of something over a period of time, ensuring it meets desired standards or objectives.
Quality
The standard of something as measured against other similar things; a degree of excellence.
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