Loyalty Programs,such as Frequent Flier and Consumer Clubs,help Organizations Amass

question 58

True/False

Loyalty programs,such as frequent flier and consumer clubs,help organizations amass a steady flow of data about their customers.

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Definitions:

Direct Labour Standard

The benchmark or norm for the amount of labor time that is considered necessary to produce a unit of product under standard operating conditions.

Machine Breakdown

A failure or malfunction of machinery which leads to production halting and potential delays in operations.

Budgeted Output

The anticipated quantity of goods or services a company plans to produce in a specified period, usually tied to budgeting and planning processes.

Standard Cost

A predetermined or estimated cost of producing a product or service, used as a benchmark for measuring actual production costs.